The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.

Unlike some banks that reported earlier, the subsidiary of PlainsCapital Bank saw its gain on sale decrease from the second quarter.

JPMorgan Chase now tops Wells Fargo in third-party servicing, origination volume and on-balance-sheet home loans, according to company filings.

The Pittsburgh-based regional bank expects to save $325 million next year as it reduces its staff by 4%. Executives said the cuts are necessary because revenue has fallen amid a surge in interest rates and a decline in loan volumes.

Reluctance to eliminate staff with the hope that business will turn around has been a driver of the multiple quarter stretch of industry losses, its latest study of mortgage lenders found.

The lender has shed nearly 80% of its expenses in the past year, in part through massive downsizing.

Both Keefe, Bruyette & Woods and BTIG believe the transaction — key to spinout of the mortgage business — will be completed despite the opposition of Sculptor founder Dan Och.

All six companies reported a shift on a quarter-to-quarter basis, and most were still off from a year ago.

BofA's fintech accelerator launch and Guaranteed Rate's new insurance offering via a brokerage spinoff are among the latest fintech stories.

The privately held company added a retail branch network and a $10 billion servicing portfolio — and is looking for more.

The fintech is reducing its sales and marketing expenses and promoting a healthy pipeline of consumer banking products, representatives said.

The company, which recently divested in the forward mortgage business and sold off its title services unit, reported a $222.5 million loss.

But its operating income missed estimates with servicing income and gain-on-sale margins coming in lower than expected.

The lender and servicer posted its highest pull-through weighted gain-on-sale margin in almost two years while recording modest production growth.

The REIT issued its second securitization of the year in June, while also purchasing or locking $50 million in newly originated loans.

The real estate investment trust declined to comment on its bid to buy Western Asset Mortgage Capital, a company that received a sweetened competing offer from Terra Property Trust last week.

Radian and MGIC grabbed a larger portion of new insurance written during the period while maintaining pricing discipline.

The turnaround was due to a $42 million positive servicing mark. Even with the operating loss, it beat estimates.

The mortgage shop's net income was $36.9 million in the second quarter, up from a net loss of $37.2 million in the first three months of the year.