The Zacks Growth and Income Profit Track strategy looks for stocks with unusually high dividend yields.Among the stocks that meet its criteria are NovaStar Financial Inc., and Trustreet Properties Inc. NovaStar is the parent company of a nonconforming mortgage lender. Zacks noted its current dividend yield is 17.42%. In its comments, Zacks said "NovaStar stated that 2005 demonstrated the value of having both portfolio and mortgage banking businesses for its shareholders. Trustreet's current dividend yield of 8.81% qualifies it for the list. It focuses on properties connected with the restaurant industry. Zacks has a website at http://www.zacks.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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