Origination

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.

A significant fallback in rates brought some borrowers back to the table but cooled interest in adjustable-rate loans, which had surged throughout October, the Mortgage Bankers Association said.

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

As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.

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.

The coworking giant's spiral hit landlords along the way as it renegotiated and sought to exit many leases.