While mortgage originations were up 34% from a year ago, to $7.2B, shares dip below 12-month low after company executives said they don't expect Q1 2025 lending to surpass $5.5B
$24B in 2024 mortgage production represents Guild's biggest year since the pandemic-fueled refinancing boom, helping the San Diego-based lender bounce back from $39M 2023 loss
In a year when home sales hit a 3-decade low, the nation's biggest mortgage lender racked up a $329M profit and made $96.1B in loans to homebuyers -- the company's best year ever
After posting $33M in profit in 2024, PHH Mortgage's parent company said Thursday it will invest further in loan servicing and the originations tech that handles a majority of its customer inquires
Once the nation's largest home lender, Wells Fargo could be poised for a comeback in mortgage this year as it continues to make progress addressing regulators' concerns about past practices
In Q2 earnings, the nation's largest mortgage lender posted a healthy $76M profit, paid down debt and said it's in prime position to capitalize and grow as mortgage rates drop to 2024 lows
In addition to $15M in direct costs, loanDepot says it lost an additional $22M in revenue while systems were down and clients couldn't lock, contributing to $72M Q1 net loss
Fannie Mae and MBA economists are now in agreement that mortgage rates will come down only gradually this year and next but that home price appreciation will slow
The San Diego-based lender has completed 5 acquisitions in the past 18 months in pursuit of market share, unfazed by a 21% drop in mortgage originations and a $39.1M 2023 net loss
Loans for office buildings specifically dropped 68% year over year and 32% quarter over quarter as investors remained wary about the risk-heavy sectors and interest rates remained high
The loan servicing giant faces multiple lawsuits over recent cybersecurity breach and will provide 2 years of identity protection services and credit monitoring to all current and former customers
With headwinds in sight for 2024, loanDepot plans to slash $120M in annual expenses following 3 consecutive quarters of cuts, CEO Frank Martell said during a Q3 earnings call Tuesday afternoon
Dan Hanson, the former head of loanDepot's retail division, will develop 'new revenue-generating opportunities' as the lender's new executive director of enterprise partnerships and acquisitions
Lenders lost $2,812 per loan as business dropped off faster than they could trim expenses and production costs hit a record-high $12,450 per loan, Mortgage Bankers Association survey finds
JD Power warns that the mortgage customer experience is increasingly commoditized, with few lenders finding the right formula to be seen as trusted advisers