Finance

Its strong balance sheet opens up opportunities for the mortgage lender to bring more companies under its helm, executives during the earnings call said.

WeWork, once valued at $47 billion, needs to slash costs and shore up its finances as it tries to continue operating.

The former investment type added to net earnings, but a tough market hurt some sectors of it during a quarter in which the company experienced mixed success with M&A attempts.

The Federal Housing Finance Agency says it wants to more closely tether Federal Home Loan bank advances to housing and community development. Doing so will first involve clearly defining the banks' mission through regulation.

Earnings benefited from low delinquencies and slow prepayment speeds, but high rates will limit growth opportunities.

The company posted net income of under $301 million in the third quarter, including a $93 million positive mortgage servicing mark.

As the leading player in a specialized niche within the consolidating mortgage market, Finance of America is being watched closely.

The lender and servicer is still planning for another $120 million in annualized expense reductions in the next few quarters.

The Federal Housing Finance Agency said in a long-awaited report that it will set up new guardrails for the Federal Home Loan Banks to ensure that the institutions are serving a housing-centric mission.

He will take over the role from current non-executive chair Sara Mathew, who's allowed time on the government-sponsored enterprise's board is expiring.

The company also renewed key partnerships, recorded some reverse mortgage charges it'd previously foreseen and eked out an adjusted pretax origination gain.

Rather than adding the option of using two rather than three prior to score updates, the company suggested the former functionality be added after or scrapped.

But the company was profitable for the second consecutive period under standard accounting principles in the third quarter.

While the addition of Black Knight is already paying off in terms of cross-sell success, the unit has posted operating losses in five of the last six quarters.

Like its competitor Fannie Mae, the enterprise's earnings were higher year-over-year but recorded a quarterly decline in part due to a legacy shareholder lawsuit.

The acquisition of the mortgage servicer has costs, but it'll give the company offsetting efficiencies of scale, executives said in an earnings call Tuesday.

The government-sponsored enterprise's net income was balanced by climbing interest rates, which drove a large increase in fair value gains.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

The neobank is also benefiting from its product diversity.

The market appears strongly divided, as commercial real estate presents investors with stark choices and big risk-management decisions, often differing by region and by sub-sector.