Corporate finance

First-quarter operating revenue in Equifax's Mortgage Solutions unit was the lowest it's been for the fiscal period since 2016, and the company anticipates declines in this division will remain a concern.

Zillow's mortgage division experienced better customer demand in the first quarter than it expected, but its revenue was outweighed by expenses that led to a pretax loss of $9.6 million.

Lower rates hurt the value of Impac Mortgage Holdings' servicing rights and overall earnings in the first quarter, but they could help improve the company's second-quarter results.

Bank 34 will no longer sell mortgages in the secondary market as it looks to reduce its reliance on volatile revenue streams.

Lower interest rates caused mortgage serving rights runoff plus a charge to the fair value of that portfolio and led to Ocwen Financial posting a first-quarter loss.

Intercontinental Exchange's proposed acquisition of Simplifile will enhance its MERS unit's growing presence in handling electronic notes.

Freddie Mac will keep building on the financial reforms that produced profitability during conservatorship as broader government-sponsored enterprise proposals take shape, according to departing CEO Don Layton.

Fannie Mae is considering sharing more risk with the private sector to reduce future strain on its earnings from the implementation of the Current Expected Credit Loss accounting standard next year.

First-quarter year-over-year results declined at a pair of mortgage bankers active in the acquisitions market as well as at the provider of the most used servicing technology.

In a long-term attempt to stabilize its earnings from the cyclical nature of home loans, HomeStreet took a loss in the opening quarter of 2019.

The Boston company gained the mortgage platform when it bought First Choice in 2017.

Title underwriters and other vendors reported year-over-year declines in business activity (although some reported improved profitability), but lower interest rates made them optimistic about their prospects going forward.

Even after integrating the 52 Wells Fargo branches acquired in December as part of its efforts to diversify beyond home lending, Flagstar Bancorp's first-quarter earnings were driven by increased mortgage revenue.

MGIC Investment Corp. posted better-than-expected first-quarter earnings as expenses were lower than projected while net premiums came in higher.

The bank is expecting to benefit from the discount airline's first flights to the Aloha State even as a white-hot local housing market starts to cool.

Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of chartered banks, according to the Mortgage Bankers Association.

The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types.

Lower interest rates increased Bank of America's first-quarter residential mortgage volume by 21% over the previous year, while home equity dropped by 25%.

Citigroup's first quarter mortgage-related revenue increased compared with the fourth quarter — although down slightly from the same period last year — as its lending operations continued to contract.

First-quarter mortgage banking results at Wells Fargo and JPMorgan Chase could be an early sign of an improving industry.