Finance

But company officials warned slimmer margins and a slowing market would lead to staff reductions.

The servicing segment's pretax income was almost 80% higher than the fourth quarter, offsetting a more than 90% decline for the production business.

Home sales usually pick up in the spring, but Zillow's outlook indicates that higher mortgage rates and low inventory of for-sale homes will finally slow activity.

The market is discounting the acquisition target’s stock price, largely over antitrust considerations, but execs dismissed the concern, and analysts said ways around it exist.

The move supports strong gains coming in from this side of the business, which helped the company return to profitability in the third quarter.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

The government-sponsored enterprise on Tuesday priced its fifth Connecticut Avenue Securities transaction this year, making further progress in supporting the market it left during the Trump era.

However, originators selling loans to Fannie Mae and Freddie Mac will have almost 10 months before the Supplemental Consumer Information is required.

While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”

The transaction is expected to keep revenues flat at the company at a time when mortgage origination volume is shrinking.