Newrez sees growth opportunity from Rocket-Mr. Cooper merger
The lender's parent also said it is actively in preparation to move forward on plans to unlock equity value in 2025, with a Newrez spinoff among its options.
Earnings
Regions Financial tweaks 2025 outlook, sees US slowdown
The parent company of Regions Bank released modest growth first-quarter earnings, anticipating a slowdown in the economy due to market volatility.
Why Citizens is selling its student loans
The regional bank is offloading a $1.9 billion student loan portfolio in order to focus on its relationships with existing customers, said CEO Bruce Van Saun.
M&T predicts economy ‘slowdown,’ not recession
The Buffalo, New York-based bank also said Monday that the commercial real estate lending market has started showing signs of life, but that the renewed competition is crimping its loan growth.
Angel Oak eyes non-QM growth if Trump GSE plan advances
Easing regulations on the GSEs will likely drive elevated activity in non-QM if or when it occurs, leaders at the real estate investment trust also said.
Fannie Mae’s net income slips on lower credit-loss benefit
The enterprise failed to improve on its net income but did report a steady profit, and got closer to meeting minimum risk-based regulatory capital requirements.
NYC-area banks’ to-do lists: Deposit growth, CRE reduction
Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.
Capital One, seeing a healthy consumer, leans into credit cards
CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."
WaFd is the latest bank to exit mortgage lending
Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.
JPMorgan posts record profit; succession plan undetermined
The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.
Fannie, Freddie hit a 5-year high on plan for ‘eventual release’
Freddie Mac shares rose to $4.14 at 12:30 p.m. in New York Friday, Fannie Mae's stock climbed to about $4.23, each up 22% from the previous day's close.
Prepare for a wild ride in 2025, Fannie Mae warns
Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.
How mortgage bankers performed financially in 3Q24
Lower rates during the period helped independent mortgage bankers make money on their originations but they posted losses on servicing.
First Foundation takes its lumps over CRE loans it plans to sell
The Dallas-based bank swung to a loss in the third quarter after reclassifying a large bundle of multifamily loans that it plans to offload under a recently announced strategy pivot.
Citi not expecting an asset cap, CEO Fraser says
Analysts peppered CEO Jane Fraser with questions about whether Citigroup, already hit hard by its regulators, could face asset growth restrictions. She said there is "absolutely nothing" in the works that could impact the megabank's businesses.
Wells Fargo nears ‘trough’ in deposit costs after Fed rate cut
The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.
JPMorgan Chase forecasts more credit headwinds
The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.
BMO’s preparation for loan losses hamstrings earnings
The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.
UMB Financial starts checking items off to-do list for Heartland deal
The Kansas City, Missouri-based regional bank said it is making progress on its pending purchase of Heartland Financial USA in Denver. The deal is expected to close during the first quarter of 2025.
Two Harbors adding new mortgage products, selling some MSRs
While the REIT still seeks to grow servicing, it's been willing to sell for the right price as it responds to new rate-related risks and opportunities.
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