Finance

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.

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.

The company said its mortgage subsidiary has pro forma compliance with the pending risk-based capital requirements that other entities claim are difficult to meet.

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.

Some 2.9% of the pool—comprised of 1,705 loans—was 30 days delinquent, and 68.3% of the loans had experienced one or more delinquencies in the past 24 months.

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.

Mortgage experts generally expect the switch to open up lending and potentially improve the predictability of loan performance — but some are worried about potential costs.

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