Finance

The Federal Reserve appeared closer to moderating aggressive interest rate increases after welcome news on inflation, with three officials backing a downshift even as they stressed that policy needs to stay tight.

The company was profitable on a net basis but took a comprehensive loss linked to market volatility's effect on mortgage bonds.

But executives put a sunny spin on it, saying that its recent exit from forward mortgages will allow it to leverage reverse lending, where tailwinds will lead to profitability next year, management said.

The company has incurred a combined $91.8 million in expenses in the past two quarters related to its massive cost-cutting plan, which included the layoff of thousands of professionals.

The package, which Incenter is brokering on behalf of an unnamed mortgage banker, is primarily concentrated in California and Colorado.

The company is floating the possibility of selling a portion of its loan portfolio to free up liquidity in coming months, leaders said.

The government-sponsored enterprise put more money aside as mortgage interest rates rise and home prices start to decline.

The six active underwriters wrote 14% less business compared with the second quarter and 30% from one year prior.

While credit risk has been kept under control to date, the government-sponsored enterprise's leaders said Tuesday that they are concerned it could be on the verge of an uptick.

Both sides in the litigation over 2012 Federal Housing Finance Agency amendments to stock purchase agreements say they're weighing their options.

The writing on the wall says the market will deteriorate further, the company's executives said in a written statement.

The lender reported a 24% drop in volume quarter-over-quarter but said it compared favorably to the average 29% decline projected by the Mortgage Bankers Association.

The company is reporting both higher origination volume and net earnings on a quarter-to-quarter basis.

The company's volume fell behind its wholesale-focused chief competitor's in the third quarter but management foresees potential weakness in the broker channel.

Without the increase in valuations, the company recorded a reduced, adjusted, pretax loss in the third quarter; so it's doing more to cut costs and focus on subservicing strategies.

Leaders of its parent company touted the success of subscription models and also made a case for its proposed merger with Black Knight in an earnings call

These associations contribute some relatively affordable housing to a pricey market, but key mortgage stakeholders have tightened criteria in the wake of a building collapse that highlighted the sector's particular risks.

Servicing numbers propelled the REIT to the positive third-quarter result, while the company also announced it had acquired a stake in a commercial real estate investment firm.

Federal Reserve officials signaled their aggressive campaign to curb inflation could be entering its final phase even as they delivered their fourth straight 75 basis-point interest-rate increase.

The platform allows homeowners to pay for their mortgage and recommends other home services of value.