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 […]
Redwood Trust’s mortgage businesses turn 2Q profits Read More »
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
Fannie Mae trims costs but profits decline Read More »
Lenders are sweating out the dog days of summer as state rates continue to keep buyers at bay. Total application volume fell 3.8% last week compared to the prior seven days, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Both purchase and refinance demand stepped back with average 30-year fixed-rate mortgage rates ticking
Cruel summer continues as rates, applications barely budge Read More »