The future secondary mortgage market entities will receive high investment grade ratings, even as there is no clarity on their scope or form, Fitch Ratings said.
Genworth Financial's U.S. private mortgage insurance business had an almost 50% increase in adjusted operating income, benefiting from lower-than-expected claim rates.
Ellie Mae had second-quarter net income of $18.8 million, a 77% increase over the $10.6 million in the same period last year largely due to a tax accounting change.
Arch Capital Group's mortgage insurance business had second-quarter underwriting income of $184 million, up 343% from the $41.4 million for the same period last year.
Ocwen Financial finalized the deal to sell its interests in $110 billion of nonagency mortgage servicing rights to New Residential Investment Corp. for total consideration of $400 million.
Walter Investment Management Corp.'s share price has fallen below a threshold required by the New York Stock Exchange, but the exchange will give the company time to rectify the situation.
