Freddie Mac’s net income declined 14% year-over-year in the second quarter, because it increased its provision for credit losses. Fannie Mae, when it reported earnings on Wednesday, cited a similar reason as contributing to its own second quarter drop off. Still, Freddie Mac reported net income of $2.39 billion, compared with $2.83 billion in the […]
Freddie Mac lower Q2 income due to rising credit provisions Read More »
Compass Real Estate reported its strongest quarterly performance in company history during the second quarter — delivering record revenue and profitability despite challenging housing market conditions. The company reported a 21.1% year-over-year revenue increase to $2.06 billion in the second quarter of 2025, with total transactions rising 20.9%. Compass CEO Robert Reffkin emphasized the company’s
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While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own
Redwood Trust’s mortgage businesses turn 2Q profits Read More »
Fannie Mae, the larger of two government-related loan buyers the Trump administration is considering repositioning for monetization, reported net worth and efficiency improved in the second quarter but earnings fell due to a revised credit loss provision linked to softer home prices. The government-sponsored enterprise generated $3.3 billion in net income during the period, down
Fannie Mae trims costs but profits decline Read More »
Two, an investor and originator/servicer, recorded anticipated expenses from a dispute with a former external manager that weighed down second-quarter earnings as it navigated secondary market disruption. The real estate investment trust and owner of Roundpoint Mortgage Servicing reported a more than $270 million net loss to common shareholders (over $257 million including preferred and
Mortgage REIT Two weathers volatility and legal costs Read More »
Rithm Capital, the parent of multichannel mortgage lender Newrez, said it’s not currently moving forward with plans on an initial public offering for the subsidiary as it focuses on supporting the firm’s broader portfolio. Instead, the firm is turning its attention to mergers and acquisitions, even amid macroeconomic uncertainty. “First of all, we spent a
Rithm Capital delays Newrez public listing, eyes M&A opportunities Read More »
Opendoor, whose stock price has soared since early July, has postponed a special stockholder meeting originally scheduled for today to address a Nasdaq listing notification. The vote, now rescheduled for Aug. 27, concerns a potential reverse stock split that, if approved by shareholders and enacted by the board, could help remedy the company’s share price
Opendoor delays vote amid stock surge, Nasdaq threat Read More »
A Newrez spinoff is temporarily off the table, as its parent company focuses on maximizing the mortgage lender’s value to support the overall business, Rithm Capital leaders said in its latest earnings call. After reproposing the idea of a Newrez public listing two years ago, company leaders said optimizing its earnings potential for Rithm would
Newrez spinoff delayed as Rithm eyes growth Read More »
Bing Guan/Bloomberg Flagstar Financial’s profitability challenges extended into yet another quarter, with the company reporting a net loss, though executives remain optimistic about a near-term financial turnaround. On Friday, the parent company of Flagstar Bank reported a second-quarter net loss of $70 million, or $0.19 per share, exceeding the consensus net loss estimate of $0.14
Flagstar’s losses shrink as bank looks toward profitability Read More »
Primelending returned to the black in the second quarter, but ongoing housing market challenges look set to apply further downward pressure to the mortgage business’ bottom line, leaders of its parent company warned. Mortgage originations brought in $3.21 million of pre-tax income for Hilltop Holdings, parent company of Plainscapital Bank and Primelending, during the second
Primelending profits, but outlook still dim Read More »