Secondary

Chairman and CEO David Spector, in weighing Rocket Cos.' purchase of Mr. Cooper, suggested Pennymac's balanced business model couldn't be duplicated.

Don Layton, former Freddie Mac CEO, and self-proclaimed "GSEologist" predicts that a release of the two entities will occur within four to six years.

Moody's Corp., a company that grades bonds and analyzes corporations' financial performance, said it expects to earn less this year than it had previously forecast.

Equifax Inc.'s first-quarter profit beat estimates, although the credit-reporting agency declined to raise its guidance, citing the tariff-induced uncertainty in the economy and falling consumer confidence.

The partnership between alternative investment managers adds to signs investors see the private mortgage market as attractive, albeit not immune to risk.

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Even after posting production losses in two of four quarters last year, independent mortgage bankers made $443 on every loan originated during 2024.

Fifth Third Bancorp revised its guidance, but still expects record net interest income for 2025, even as commercial clients signal that economic volatility will drive up inflation.

The super-regional bank cited "a material slowdown" in investment banking and trading income as one reason for the lower revenue forecast. Interest rates are also a factor, executives said.

Chief Operating Officer Joseph Gormley's appointment fills out a thin executive team at the government corporation, which plays a key role in funding mortgages.