The closure of its nationwide retail business — which followed the shuttering of its consumer direct business in Q2 — pushed the Florida bank into a $1.4 million loss for the most recent quarter.

Earnings from the real estate investment trust, which primarily invests in agency securitizations, highlight some defensive strategies that proved effective in mitigating risks, but also point to current revenue challenges.

Eighteen months after the $2.6 billion deal was announced — and five days before the Oct. 31 deadline — New York Community is still waiting for regulatory approval to buy the Michigan bank. On their joint earnings call, the companies wouldn't say where the deal stands.

The company is positioning itself for further challenges in the mortgage cycle, and considering MSR buying opportunities while keeping in mind that it needs to be cautious about its capital allocations.

Multiple mortgage real-estate investment trusts have warned that market movements would hurt their third quarter numbers.

In a week where homebuilding stocks were faced with surging U.S. Treasury yields and data showing weakening demand for homes, one analyst is throwing in the towel on the sector.

The mortgage subsidiary of PlainsCapital Bank also said it had reduced its headcount by 23% in the past year.

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

Origination activity dropped quarter-to-quarter by more than prior industry estimates, however.

The non-qualified mortgage lender, hard hit by secondary market upheaval, was out of compliance for low shareholder equity and losing money five years in a row.

First American, Old Republic and Stewart did better compared to the first quarter, but all are down year-over-year, and Doma sank deeper into the red.

Additionally: FHFA adds reporting mandate for servicers and more layoffs are announced.

The company dialed back loan production activities at its call center and from mortgage brokers as interest rates continued to rise.

The REIT did not issue a securitization in the period because of the upheaval, but found a more receptive marketplace in July.

The lending and servicing giant is also amping up cost-saving efforts with more layoffs after reporting a net loss of $223.8 million in the second quarter.

In response, the company is looking to diversify its revenue stream.

The company is looking at the long-term picture, building business for 2023 and beyond, Chairman and CEO Mat Ishbia said.

Only Essent saw a decline in profitability on a quarter-to-quarter basis during what ended up being a much better period for the business than for its mortgage lender clients.

Waning mortgage activity slashed net income 72% in the second quarter to $58.3 million.

The company is withdrawing from consumer-direct lending and making other reductions given that widening spreads failed to offset savings from aggressive layoffs and gains in servicing advisory services.