Lower gain on sale margins at JPMorgan Chase could be a negative sign for independent mortgage banker results in the second quarter, a Keefe, Bruyette & Woods report said. The drop in margins at both Chase and Wells Fargo came even as origination volume rebounded at both banks. It was up 44% from the first […]
Chase’s lower 2Q margins a negative for IMB earnings Read More »
`UPDATE: This story now includes commentary from Wells Fargo executives and analysts. The regulatory shackles are off at Wells Fargo, but that new reality doesn’t necessarily mean that rapid growth is in the offing. Though the bank’s assets climbed above their longtime $1.95 trillion limit during the second quarter, Wells continues to be constrained by
Wells Fargo’s asset cap is gone, but loan demand stays tepid Read More »
Mortgage veteran Glenn Stearns is taking a different approach with his latest venture. Kind Lending, a national wholesale mortgage lender and his second brainchild, is built on lean operations and a focus on efficiency — a contrast with his first company, Stearns Lending, which filed for Chapter 11 bankruptcy in 2019. “This is not our
How midsize lenders are surviving the mortgage squeeze Read More »
Rocket Cos. is offering a combined $4 billion in senior notes to pay some of Mr. Cooper’s ten-figure debt in anticipation of the major acquisition. The Detroit-based fintech said Tuesday it wants to sell $2 billion of senior notes due 2030 and an additional $2 billion of senior notes due 2033, unconditionally guaranteed by Rocket
Rocket plans to raise $4B to pay off Mr. Cooper debt Read More »
Altisource Portfolio Solutions is doing a reverse split of outstanding common stock, effective Wednesday May 28, to regain market listing compliance. The Luxembourg-based company, known as the former servicing platform provider for Ocwen (which recently rebranded to Onity) is listed on the Nasdaq Global Select Market. Why Altisource is doing a reverse split On Dec.
Altisource Portfolio looks to regain Nasdaq compliance Read More »
There is no doubt that CoStar Group threw everything it had into the 2024 launch of the revamped Homes.com. From Super Bowl ads that were part of the firm’s $1 billion marketing spend, to a reallocation of nearly all of its sales staff, Homes.com debuted with a bang. And then things kind of fizzled. Now,
CoStar investors say the company needs ‘meaningful self-help’ Read More »
One of the nation’s leading reverse mortgage lenders, Finance of America (FOA), posted strong first-quarter 2025 earnings results. The company beat its estimates for funded loan volume, posted a profit and maintains a bullish outlook for the quarter ahead. Drilling down deeper into the marketing and product landscape for the company, FOA President Kristen Sieffert
FOA president talks business progress amid strong Q1 earnings Read More »
Fathom Holdings Inc. is under pressure to turn its business around, and CEO Marco Fregenal thinks its new agent compensation model can do that. On the company’s first-quarter earnings call on Tuesday, Fregenal touted Elevate, which provides agents with a 20% commission split and support systems to streamline their work. Launched at the beginning of
Fathom stays optimistic about agent compensation plan even as losses mount Read More »
Better Home & Finance is offering numerous reasons to believe better days are ahead despite its struggle to reach profitability. The digital lender Tuesday morning disclosed a $51 million net loss in the first quarter, in line with net losses of $59.2 million and $50 million in the prior and year ago periods, respectively. Since
Better still in the red but sees green shoots in retail Read More »
Signs from early April that the housing market is coming around will help the title industry’s performance on what has been a slow start to the spring season. However, the biggest news that shook up the industry took place on April 10 at the second largest company by total volume. Following an incident on a
Title underwriters stay profitable in difficult Q1 Read More »