Earnings
Earnings
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Despite that year-over-year decline, the company beat analysts' expectations with fourth-quarter net income of $5.8 billion. Stronger commercial lending and lower expenses cushioned the blow in consumer credit.
January 14 -
The company's fourth-quarter trading revenue declined notably more than analysts had expected, while its business and consumer lending each dropped 1% year over year.
January 14 -
Higher sales commissions helped to drive production costs to their second-highest level since the Mortgage Bankers Association started its survey in 2008.
November 30 -
The company was able to generate a relatively higher margin than the previous quarter, in contrast to broader industry trends, bringing its bottom line back into the black.
November 12 -
The company’s servicing operations also reported a quarterly profit, with its portfolio increasing by 20% annually.
November 11 -
The company increased and diversified its income streams beyond the mortgage sector but expenses associated with stock-based compensation and a recent acquisition outweighed these gains.
November 11 -
Amid its first post-IPO securitization of loans made outside a regulatory definition for standard products, the company has seen purchases accelerate, but it underperformed by some analysts’ estimates.
November 10 -
The wholesale lender's net income of nearly $330 million factored in a $170.5 million hit from a reduction in its mortgage servicing rights fair value.
November 9 -
The company’s gains, which far exceeded analysts’ expectations, were partially offset by thinner production margins.
November 8 -
The company’s six acquisitions since last March will contribute to increased revenue in both of its software and data and analytics segments.
November 8 -
All six companies, however, remained highly profitable, as the delinquency and forbearance outlook is favorable for the possibility of rising claims payments.
November 5 -
A greater share of the company's future earnings are likely to come from servicing as rates rise, Chief Operating Officer Andy Chang said.
November 5 -
While the company produced $88 billion during the period, it had a major margin squeeze in its TPO Pro channel.
November 5 -
The company is repositioning its secondary market sales of loans and servicing and implementing cost-cutting measures as the market normalizes.
November 4 -
Applications related to Zillow Offers made up 70% of the mortgage lender's purchase business in the third quarter.
November 3 -
After closing its merger with Caliber, the company also hopes to pare down expenses by at least 10%.
November 2 -
The company, which was accused of cutting corners in originations by a former top executive, produced $32 billion in the third quarter and is guiding between $26 billion and $31 billion in the fourth.
November 1 -
The mortgage giant’s net worth of $42 billion at the end of the quarter was more than double what it was a year earlier. CEO Hugh Frater said that financial strength puts the company on better footing to support affordable housing goals outlined by the Federal Housing Finance Agency.
October 29 -
The combined refinance and purchase total was nearly double the average quarterly volume logged before the pandemic, the company said in its third-quarter earnings call.
October 29 -
The company is making progress on a focus shift to recurring revenues from transactional activities.
October 28


















