Stocks

Chairman and CEO of Pennymac, David Spector, said the one-time cost will allow the company to retain ownership of a proprietary system that could build value for investors.

Two Harbors, which also reported a gain in comprehensive income, recently completed an acquisition that made it the eighth largest conventional servicer.

The U.S. may be less rate-sensitive than other countries due to its long-term mortgages but could face tighter credit from hard-hit financial institutions.

The warning follows a period in which its stock traded below a certain threshold. The company can stay listed and plans to ask for time to regain compliance.

Short-term rates may fall but the Fed's quantitative tightening, which tends to pressure financing costs for most mortgages, persists. Here the net impact.

The company will appeal the New York Stock Exchange's determination that it hasn't demonstrated compliance with NYSE rules within an 18-month period.

The acquisition of the mortgage servicer has costs, but it'll give the company offsetting efficiencies of scale, executives said in an earnings call Tuesday.

The company took another net loss but some of its numbers improved as it slashed expenses and prospects improved for distressed loan services.

News of President Chris Marshall's planned departure at year-end 2024 came amid reports of net servicing gains and the start of a capital raise for an MSR fund.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.

The acquiring company netted an incremental gain in shareholder buy-in with its previous postponement but not enough to push the transaction forward.

A subsidiary pushed its tender offer to buy outstanding shares by June 27 further out after a small percentage of stockholders failed to accept by the original expiration date.

Trading of the company's securities was immediately suspended for failure to meet minimum shareholder equity levels, a move it agreed with.

The company's controlling shareholder wants to replace former HUD Deputy Secretary Pam Patenaude on its board with title company executive Steve Ozonian.

Proceeds from the sales, which might not be the last, will pay down a personal loan secured by Nima Ghamsari's holdings.

Kind Lending founder Gary Stearns told the National Association of Mortgage Brokers that the wholesale channel always feels the pain first in a slowdown and that changes were coming to the industry after a remarkable run, writes the chairman of Whalen Global Advisors.

The company's expanded portfolio through its acquisition spree drove revenue, representatives said.

The gain on sale in the retail channel dropped by more than half annually, as the wholesale and joint venture channel endured an even tighter squeeze due to competitive pressures