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Earnings

Rocket returns to profitability in Q2, yields early benefits from Redfin deal

Earnings, HWmember, LendingLife, Mortgage, Origination, Rocket Companies, Rocket Mortgage, Varun Krishna /

Rocket Companies, the parent of Rocket Mortgage, has returned to profitability despite a challenging second quarter for the mortgage industry, marked by economic uncertainties in the U.S. The company is now focusing on integrating the recently acquired real estate brokerage firm Redfin, which has already shown early benefits. In the second quarter, Rocket reported a […]

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Rocket profitable in Q2 in spite of weak spring market

Earnings, M&A, Originations, Rocket Mortgage, Servicing /

Rocket Cos. returned to profitability in the second quarter even with a Spring home sales market which started off poorly, but has been gaining momentum month-by-month that should continue beyond September, company management said. During the quarter, the company reported net income of $34 million. This compared with a first quarter loss of $212 million.

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ICE plans upgrades to improve mortgage securities trading

Earnings, Mortgage technology, Originations, Servicing /

​​Intercontinental Exchange touted Encompass wins in the second quarter and revealed coming technology upgrades that it expects to enhance mortgage bond trading in its latest earnings call.     The company’s mortgage technology unit reported growth on both a quarterly and annual basis, with operating income coming in at $11 million in the second quarter. Operating margin

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Freddie Mac lower Q2 income due to rising credit provisions

Earnings, Housing markets, Secondary markets /

Freddie Mac’s net income declined 14% year-over-year in the second quarter, because it increased its provision for credit losses. Fannie Mae, when it reported earnings on Wednesday, cited a similar reason as contributing to its own second quarter drop off. Still, Freddie Mac reported net income of $2.39 billion, compared with $2.83 billion in the

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Compass posts record performance in Q2

Compass, Earnings, HWmember, Mergers and Acquisitions, Real Estate, Robert Reffkin /

Compass Real Estate reported its strongest quarterly performance in company history during the second quarter — delivering record revenue and profitability despite challenging housing market conditions. The company reported a 21.1% year-over-year revenue increase to $2.06 billion in the second quarter of 2025, with total transactions rising 20.9%. Compass CEO Robert Reffkin emphasized the company’s

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Redwood Trust’s mortgage businesses turn 2Q profits

Earnings, LOAN PRODUCTS, Originations, Secondary markets, Securitization /

While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own

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Fannie Mae trims costs but profits decline

Earnings, Fannie Mae, Secondary markets /

Fannie Mae, the larger of two government-related loan buyers the Trump administration is considering repositioning for monetization, reported net worth and efficiency improved in the second quarter but earnings fell due to a revised credit loss provision linked to softer home prices. The government-sponsored enterprise generated $3.3 billion in net income during the period, down

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Mortgage REIT Two weathers volatility and legal costs

Earnings, Law and legal issues, Originations, Secondary markets, Servicing /

Two, an investor and originator/servicer, recorded anticipated expenses from a dispute with a former external manager that weighed down second-quarter earnings as it navigated secondary market disruption. The real estate investment trust and owner of Roundpoint Mortgage Servicing reported a more than $270 million net loss to common shareholders (over $257 million including preferred and

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Rithm Capital delays Newrez public listing, eyes M&A opportunities

Earnings, HWmember, LendingLife, Mortgage, Mortgage Servicing, NewRez, Origination, Subservicer /

Rithm Capital, the parent of multichannel mortgage lender Newrez, said it’s not currently moving forward with plans on an initial public offering for the subsidiary as it focuses on supporting the firm’s broader portfolio. Instead, the firm is turning its attention to mergers and acquisitions, even amid macroeconomic uncertainty. “First of all, we spent a

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Opendoor delays vote amid stock surge, Nasdaq threat

Earnings, Fintech, Housing markets /

Opendoor, whose stock price has soared since early July, has postponed a special stockholder meeting originally scheduled for today to address a Nasdaq listing notification.  The vote, now rescheduled for Aug. 27, concerns a potential reverse stock split that, if approved by shareholders and enacted by the board, could help remedy the company’s share price

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