Corporate finance

Builder mortgage units saw Q1 profit slides (NVR down 17%) despite an 11% rise in new home loan applications. Overall homebuilder net income dropped, and sales incentives remain high.

An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts.

CEO Tim Spence said folding in the acquired bank has gone to plan so far, but the biggest point of risk is still on the horizon.

Both Chase and Wells Fargo had a 15% reduction quarter-to-quarter in mortgage originations, more than the industry forecast for a 6% drop-off, Keefe, Bruyette & Woods noted.

Lennar's first fiscal quarter earnings were down by more than half after three years of persistent trials which are testing consumer confidence and sentiment.

CEO Vishal Garg said he expects his firm's brokering loans for Credit Karma to make the consumer platform the largest originator in the country.

On an adjusted basis, reverse mortgage company Finance of America reported $14 million in net income, down from $33 million in the third quarter.

CEO Anthony Hsieh said refinances should provide notable benefit to its direct lending unit a day after LoanDepot announced a return to the wholesale channel.

UWM raised its Q1 and full-year 2026 revenue guidance ahead of Two Harbors' March 16 shareholder vote, citing AI efficiency gains, amid stock volatility since the merger announcement.

While correspondent is still the bulk of Planet Financial's production, growth of its servicing portfolio helped the company increase retention volume.

The company also revealed more about the impacts of its data breach, and said it doesn't consider the development likely to materially affect its results.

The fourth quarter results integrated the operations of both Redfin and Mr. Cooper into Rocket Cos., with the deals likely contributing to the full year loss.

Even with the increase in business, Fidelity National Financial reported a net loss for the period, a result of the stock distribution for its life unit.

Even after a servicing write-down, the GAAP net income of $164.4 million during the fourth quarter substantially topped comparative periods at UWM Holdings.

The New York City-based lender, whose roots lie in taxi lending, believes an expanded home-improvement loan operation will generate mid-teen loan growth this year.

A House subcommittee hearing discussing the future of the government-sponsored enterprises, noted both are still severely undercapitalized.

The company formerly known as Ocwen confirmed that a deferred tax asset valuation helped boost net income to common shareholders despite servicing challenges.

Adjustments related to higher credit risk weights for new acquisitions and rate shifts offset increases in the government-sponsored enterprise's core earnings.

Zillow Group Inc. forecast first-quarter profit that falls short of analyst estimates as the home-search site balances legal costs from ongoing litigation and expenses from the company's partnership with Redfin.

The lawsuit, which doesn't target UWM, accuses the REIT's CEO and board of directors of suspicious stock sales around the December announcement.