Stocks

After an initial fizzle, the stock at one point was trading above the original expected price range.

Insurance claims and claims expenses were 503% above 1Q and 1,075% over 2Q19.

The delinquent loan inventory more than doubled compared with the prior year.

The common stock for the new parent of Quicken Loans is expected to start trading on the New York Stock Exchange on Thursday.

PREIT, which owns a number of large malls, is trimming the salaries of its CEO and chief financial officer while suspending dividend payments as part of a deal with its lenders to stave off default as the coronavirus pandemic continues to take its toll on the troubled company.

The year-over-year increase came as homebuying picked up and the company's mortgage lending business boomed.

The company's servicing segment recorded a pretax loss of $251 million over the period.

Even with the second quarter's market disruption, Redwood Trust still regained profitability.

While low interest rates drove up new insurance written, the increased defaults stymied overall performance.

The government-sponsored enterprise reported net earnings of $2.55 billion, up from $461 million in the first quarter.