Essent Guaranty, a new start-up mortgage insurance company, has yet to write its first MI policy but it should be any week now, we're told. Essent is the brainchild of Mark Casale, who resigned as president of Radian Guaranty in October 2007. The new company is based in Radner, Pa. In other MI news, The PMI Group reported another huge quarterly loss ($228 million), this time for the period ending December 31. Its stock continues to trade for just over $2 a share...
Finance of America's earnings per share came out to $1.10, double that of the first quarter of 2025 and well above the a S&P Capital IQ Pro consensus estimate of $0.84.
PennyMac Financial Services reported $82.3 million net income, inclusive of a $44 million net reduction related to servicing fair value and hedge losses.
The lender and servicer, which continues to make investments ahead of a future high-demand cycle, has reported tumbling margins in the past year.
Credibly will bring its SMB loans and revenue-based financing products to Figure's Democratized Prime platform, Figure said in a press release.
Federal Reserve Gov. Michael Barr said Tuesday that the U.S. energy sector is more insulated from shocks than Europe's, particularly in natural gas prices. However, he warned that the war is pushing up gasoline prices, which could spill over into other parts of the economy.
Economic uncertainty weighed on risk appetite, but the current performance of the non-QM market is "durable," Angel Oak leaders said in an earnings call.
