Stocks

The unusually strong production numbers seen in the first quarter of this year show loanDepot is emerging as a contender in the battle for loan volume and market share amid an industry price war.

The company says its first quarter net income nearly doubled from its showing in Q4 2020, due in part to cost-cutting and servicing income. It also revealed more information about unauthorized payment drafts by its vendor.

This is the first deal that serial acquirer FOA has announced since it went public on April 5.

Although the company’s revenue and incomes spiked from year-ago levels, most benchmarks showed a decline from the fourth quarter.

A private equity capital raise earlier this year gave the company a $3.3 billion valuation.

Banks can mitigate damage from slowing origination activity by putting excess cash to work, Keefe, Bruyette & Woods said.

The forward and reverse mortgage lender completed its merger with blank check company Replay Acquisition Corp. on April 1.

Five transactions in the past week provided cash infusions for tech companies that are developing products for real estate finance.

Since CoStar made its revised offer in February, its stock price dropped nearly $177 per share.

The merger with Capitol Investment V values the title insurer at $3 billion.