Corporate finance

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 company identified opportunities and challenges amid market disruption in the quarter and revealed expansion in some mortgage-related business lines.

The company was looking to get back into compliance on Nasdaq, but the recent run-up in its stock price has management hitting the pause button.

Rithm Capital said it is focused on optimizing Newrez's potential to support the full business, pointing to opportunities in servicing and non-agency lending.

Mortgage profits improved on both a quarterly and annual basis, but leaders said low housing affordability and industry competition remain obstacles to growth.

The Long Island-based company's second-quarter net loss was the seventh consecutive quarter in which it has reported a net loss. CEO Joseph Otting remained optimistic Friday about the bank's future, saying it should return to profitability in the fourth quarter.

Eagle Bancorp in Maryland took a major quarterly loss due to challenges in its office loan portfolio. It's one of many banks working to trim down their commercial real estate loan books.

Choppy market conditions, including mortgage rates which remain elevated, had an impact on profitability at four of the nation's homebuilders in the quarter.