The government-sponsored enterprise's single-family credit reserve release caused earnings to spike.

The bank produced $1 billion less in originations while its gain on sale fell 49 basis points from the first quarter.

The shift to higher-margin home purchase policies helped to boost results at First American, Old Republic and Stewart.

While the unit saw a bigger increase in purchase volume compared to its competitors, net income, loan sales margins and total volume was lower compared with prior periods.

The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

The bank's second quarter production revenue was down 32% from the first quarter, even as volume increased 4%.

The company is looking to sell 20 million shares, with a 3 million underwriters' option, at between $16 and $18 per share.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

Premiums written increased 45%, while net operating income was up over 65%, the American Land Title Association said.

The company plans on trading on the New York Stock Exchange under the ticker symbol BLND

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

The company, on the cusp of going public via a merger, recently added Wells Fargo to its client roster.

The newly public company expects a 20% overall loss in adjusted earnings this year.

Guild announced the $196.7 million acquisition after reporting that it more than doubled its net income in the first quarter, compared to the last three months of 2020.

Despite a 1Q decline in origination volume, Chairman Mat Ishbia is optimistic for the second quarter, saying the company received 17,000 more submissions in April's higher interest rate environment than it had in February.

Altisource Portfolio Solutions’ bottom line took a larger hit in the first quarter compared to Q4 2020, causing the company to cut costs.

While the first quarter is typically the weakest period for the title business, the sector benefited from strong refinance volumes that were driven by low interest rates.

The company is shifting some of its conforming-focused call center resources not just into the growing non-QM channel but to Veterans Affairs products as well.

The company touted its investments in the wholesale channel while also reporting a slight quarterly drop in overall originations and gains on sale during an earnings call this week.