Finance

Community banks could be the answer to increase the supply of non-agency mortgage products in the secondary market, said Steve Thomas of FutureWave Finance.

The agency has a proposed repeal in place, getting ready to be made public on July 28, which would rescind another Biden-era fair housing policy.

Mortgage profits improved on both a quarterly and annual basis, but leaders said low housing affordability and industry competition remain obstacles to growth.

Given FHFA Director Bill Pulte's history of making regulatory pronouncements via X, some theorize the release of Fannie Mae and Freddie Mac could occur in the same way.

The Long Island-based company's second-quarter net loss was the seventh consecutive quarter in which it has reported a net loss. CEO Joseph Otting remained optimistic Friday about the bank's future, saying it should return to profitability in the fourth quarter.

Eagle Bancorp in Maryland took a major quarterly loss due to challenges in its office loan portfolio. It's one of many banks working to trim down their commercial real estate loan books.

The case pitted high-profile senior-tranche investors like PIMCO against junior bondholders the interpretation of contracts that predated later policy changes.

President Trump and Senate Banking Committee Chair Tim Scott, R-S.C., visited the Federal Reserve Board headquarters Thursday afternoon to inspect ongoing renovations whose cost overruns have heightened scrutiny of Fed chair Jerome Powell.

Habib's placement on the Fannie Mae board comes after he criticized Federal Reserve Chairman Jerome Powell in a Linkedin post.

Choppy market conditions, including mortgage rates which remain elevated, had an impact on profitability at four of the nation's homebuilders in the quarter.

Mr. Cooper's Q2 profit surged on servicing gains, despite missing estimates, as it preps for Rocket deal and eyes MSR growth with new client wins.

The massive lender and servicer continues to tout its recapture opportunity, with a quarter of its $700 billion portfolio holding note rates above 6%.

A "large institutional investor" will provide funding to assist Rithm in acquiring as much as $1.5 billion worth of residential transition loans.

Horton shares surged as much as 14% after the company released results for the fiscal third quarter, the biggest intraday gain since April 2020.

The company has agreed to sell the MSRs on Aug. 1. Its merger with Mechanics Bank is set to close during the third quarter of this year.

The Rhode Island-based bank plans to use artificial intelligence to boost efficiency and improve customer service. "Everything is fair game," said CEO Bruce Van Saun.

After the rapid rise of interest rates, election uncertainty and tariff policies stymied borrower demand, some banks' second-quarter results suggest that loan growth may be on its way back.

Recently revived plans for broader use of the repositioned common-securitization platform for monetization purposes may hearken back to past concepts.

A spike in the bank's noninterest income powered its better-than-expected net income and revenue in the second quarter.

CEO Brian Moynihan plans to keep directing some of the bank's excess capital into new market expansions, he said Wednesday. "Organic growth is the reality," given the bank's already dominant U.S. market share, he said.