The private equity megalith's mortgage trust made a second-quarter net income of over $17.5 million and $85.2 million in core earnings.

CEO Douglas Gordon credited the relationship between Waterstone Financial and the mortgage subsidiary for the boost in net income.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

Rocket Cos., the parent of the mortgage giant founded by billionaire Dan Gilbert, is seeking to raise as much as $3.3 billion in a U.S. initial public offering.

Other moves it is undertaking include business divestitures and increased dividends while defending against a takeover attempt.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

The company lost $8.9 million in the second quarter, but its origination and servicing businesses were profitable.

Fannie Mae could be worthless to public shareholders, according to its newest analyst.

Ocwen Financial's preliminary second-quarter results put it back in the black, and it is positioning its growing distressed-servicing expertise and pandemic-induced exposures as a net positive.

Rocket Cos. profits were over 35 times greater than what it disclosed for the first quarter.