Still, Redwood Trust lost $100 million on a GAAP basis for the period, a result of its previous decision to pivot to a scalable operating model in mortgages.

The government-sponsored enterprise's expense cuts and revenue gains minimized an earnings decline stemming primarily from a revised credit loss provision.

The company identified opportunities and challenges amid market disruption in the quarter and revealed expansion in some mortgage-related business lines.

The company was looking to get back into compliance on Nasdaq, but the recent run-up in its stock price has management hitting the pause button.

Rithm Capital said it is focused on optimizing Newrez's potential to support the full business, pointing to opportunities in servicing and non-agency lending.

Mortgage profits improved on both a quarterly and annual basis, but leaders said low housing affordability and industry competition remain obstacles to growth.

The Long Island-based company's second-quarter net loss was the seventh consecutive quarter in which it has reported a net loss. CEO Joseph Otting remained optimistic Friday about the bank's future, saying it should return to profitability in the fourth quarter.

Eagle Bancorp in Maryland took a major quarterly loss due to challenges in its office loan portfolio. It's one of many banks working to trim down their commercial real estate loan books.

Choppy market conditions, including mortgage rates which remain elevated, had an impact on profitability at four of the nation's homebuilders in the quarter.

Mr. Cooper's Q2 profit surged on servicing gains, despite missing estimates, as it preps for Rocket deal and eyes MSR growth with new client wins.

The massive lender and servicer continues to tout its recapture opportunity, with a quarter of its $700 billion portfolio holding note rates above 6%.

Horton shares surged as much as 14% after the company released results for the fiscal third quarter, the biggest intraday gain since April 2020.

The Rhode Island-based bank plans to use artificial intelligence to boost efficiency and improve customer service. "Everything is fair game," said CEO Bruce Van Saun.

After the rapid rise of interest rates, election uncertainty and tariff policies stymied borrower demand, some banks' second-quarter results suggest that loan growth may be on its way back.

A spike in the bank's noninterest income powered its better-than-expected net income and revenue in the second quarter.

CEO Brian Moynihan plans to keep directing some of the bank's excess capital into new market expansions, he said Wednesday. "Organic growth is the reality," given the bank's already dominant U.S. market share, he said.

The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.

CEO Robin Vince refused to comment on "rumors or speculation" about a potential merger between the custody banking giant and its smaller rival, Northern Trust. He also said that the bar for BNY to engage in M&A is "very high."

Gain on sale at JPMorgan Chase fell by 5 basis points in the second quarter, which could be a slightly adverse sign for mortgage banker results, KBW said.

Strong fee income growth and solid credit quality helped offset weak demand for credit as the San Francisco-based bank reported a 20% boost to earnings per share from a year ago.