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Still, Redwood Trust lost $100 million on a GAAP basis for the period, a result of its previous decision to pivot to a scalable operating model in mortgages.
The government-sponsored enterprise's expense cuts and revenue gains minimized an earnings decline stemming primarily from a revised credit loss provision.
The uninspiring mortgage numbers come a week after the Mortgage Bankers Association downgraded its yearly origination forecast over economic uncertainty.
The consumer protection agency told a Kentucky court it wants to re-examine the issues around the way bank customer data is shared with fintechs through data aggregators.
Home prices rose at the slowest pace in nearly two years, signaling a deeper shift as concerns about the economy and mortgage rates dampen consumer demand
The leading lenders have hinted at more serious accusations in the lawsuit focusing on the departure of nearly two dozen employees earlier this year.
