The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.

The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.

The $4.6 trillion-asset company's report comes after it committed to funneling $1.5 trillion into industries deemed important to national security.

As President Trump calls for scrapping quarterly earnings reports and switching to a six-month schedule, industry observers wonder whether the time saved would be worth the potential loss of transparency.

However, collective earnings from both companies are still expected to be robust, increasing by around $2 to $3 billion, the analyst report said.

Figure Technology files for a $508M IPO, while co-founder Mike Cagney secures long-term control and a retention award tied to the company's growth.

Finance of America and Hilltop Holdings, parent of Primelending, are joining the exchange which Intercontinental Exchange relocated from Chicago.

Second quarter earnings at the nation's largest title underwriters, while mostly positive, were still affected by the rather weak purchase season this year.

The correspondent giant, whose earnings have trended positively in recent quarters despite market headwinds, has made several debt moves this year.

Blend Labs had 23 new or expanded relationships in the fiscal period, double that of the first quarter, including 18 related to consumer banking or home equity.

The lender and servicer, which posted stronger originations, suggested more efficient production with improvements including renegotiated vendor contracts.

Both originations and servicing segments contributed to the second-quarter's positive numbers, with production up by over 14% year over year.

In the second quarter, the nation's largest originator funded $39.7 billion in mortgages, including $27.3 billion in purchase loans.

The company, which is projecting adjusted EBITDA profit next fall, saw its Neo Home Loans arm more than double its production from the first quarter.

While the company exceeded analyst expectations on several fronts, its Q3 outlook includes softer revenue and a slide back into negative EBITDA.

Prior to the earnings release, Finance of America announced it was buying out Blackstone's equity stake in the mortgage lender for $80 million.

The real estate investment trust this spring purchased $147 million of loans including HELOCs, completed two securitizations and closed a senior note offering.

Volatility hiked MSR hedging costs and hurt origination margins. But net income to common shareholders almost matched that seen during the previous quarter.

The decision to rejoin the CEO and chairman roles comes roughly two months after regulators removed an asset cap that had stunted the San Francisco-based company's growth for seven years.

Even with a disappointing Spring home sales season, Rocket had higher purchase volume each month, and based on approval letters, expects a strong third quarter.