Nonbank mortgage profits hurt by high costs in Q1

Revenue was also slashed by lower per-employee productivity and slipping application pull-through.

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Nonbank mortgage profits hurt by high costs in Q1

In-depth analysis, data and st... In-depth analysis, d... | 1 year ago

Revenue was also slashed by lower per-employee productivity and slipping application pull-through.

Mr. Cooper’s Q3 reports $113M in Q3 profits buoyed by servicing earnings

housingwire housingwire | 1 year ago

Dallas-based Mr. Cooper reported increased operating earnings despite severe headwinds on origination demand. The post Mr. Cooper’s Q3 reports $113M in Q3 profits buoyed by servicing earnings appeared first on HousingWire.

MSR sales played a key role in nonbank profits in Q1

housingwire housingwire | 1 year ago

A strong market for mortgage-servicing rights (MSRs) helped to buoy the profitability of at least two major nonbank lenders. The post MSR sales played a key role in nonbank profits in Q1 appeared first on HousingWire.

Mr. Cooper's earnings slide from Q1 but benefit from servicing

In-depth analysis, data and st... In-depth analysis, d... | 1 year ago

Mr. Cooper's second quarter profits, which marked big declines from both the same quarter in 2021 and the previous period this year, were heavily driven by a $196 million positive mark-to-market valuation on its mortgage servicing rights.As predicted, earnings in both its servicing and originations segments were down compared with the year-ago period."The quarter was consistent with our expectations and…our results demonstrated the consistency and predictability of our business model," Chairm...

Servicing portfolio gains propel Newrez Q1 profits to $690M

housingwire housingwire | 1 year ago

New Residential Investment Corp.'s first quarter earnings repeat the logic of rising interest rates lowering origination profits but increasing servicing gains, as reported by companies such as Mr. Cooper and Ocwen last week. The post Servicing portfolio gains propel Newrez Q1 profits to $690M appeared first on HousingWire.

TransUnion earnings fall due to mortgage declines, regulatory costs

In-depth analysis, data and st... In-depth analysis, d... | 1 year ago

PennyMac Financial's 1Q profits driven by servicing

In-depth analysis, data and st... In-depth analysis, d... | 1 year ago

Servicing portfolio propels Ocwen to profitability in Q1

housingwire housingwire | 1 year ago

Ocwen Financial Corporation reported a $58 million profit in the first quarter, even though it lost money in forward originations. The post Servicing portfolio propels Ocwen to profitability in Q1 appeared first on HousingWire.

Snapshot of lenders’ Q1 earnings: Profitable players leverage servicing portfolio against originat...

housingwire housingwire | 1 year ago

Origination volume dropped in Q1 but banks and non-bank lenders that sold off mortgage servicing rights saw the highest profits, earnings. The post Snapshot of lenders’ Q1 earnings: Profitable players leverage servicing portfolio against origination drop appeared first on HousingWire.

Skanska posts 21% dip in Q1 profits

constructiondive constructiondive | 1 year ago

The Swedish contractor reported a strong backlog in the U.S., and CFO Magnus Persson told Construction Dive that infrastructure funding will be a bright spot in coming years.