Corporate finance

Measures are needed to better address the next event-driven mortgage credit crisis that will likely occur when an even higher percentage of mortgage credit assets are owned by nonbank entities.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

For most of the underwriters it was a strong quarter, but concerns remain over government-sponsored enterprise reform and potential claims after forbearances end.

The company is finding it challenging to ramp originations back up after spending most of the second quarter on the sidelines.

Compared with the second quarter, the title insurer had 154,000 more orders opened and earned $89 per residential file.

The origination boom generated another profit for the company in the third quarter, when also it obtained a novel source of liquidity to support its servicing operations.

Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.

The upcoming shift may help to prepare the government-sponsored enterprise for a conservatorship exit by reducing interest-rate volatility in Fannie’s earnings.

The government-sponsored enterprise also saw a 22% increase in net worth from the second quarter.

The mortgage unit contributed $20 million of the $26 million the holding company earned over that period.

The company had lower losses on its mortgage servicing rights investments compared with the second quarter.

First American Financial, Old Republic, Stewart reveal how the third-quarter results point their way forward.

Hint: It's not all about the money. Company leadership enumerates the intangible benefits of going public.

The war of words between Senator Investments, Cannae Holdings and CoreLogic continues in the run-up to the Nov. 17 special shareholders meeting.

Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

The company expects to get between $17 and $19 per share.

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

But current owner Blackstone and FOA management will keep 70% of the company after its merger with a SPAC.

The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations.