HousingWireHousingWire Finance of America (FOA), the reverse mortgage industry’s leading lender, announced its third-quarter 2024 earnings results on Wednesday evening. It delivered adjusted net income of $15 million, or $0.67 per share. The company noted that Q3 2024 marked the fifth consecutive quarter of improved operating performance, including a recovery…
Continue reading →HousingWireHousingWire Guild Mortgage CEO Terry Schmidt said during a third-quarter earnings call on Wednesday that Guild’s reverse mortgage division continues to contribute to companywide strategies, and that additional interest in reverse has been observed. Guild’s current reverse lending division, built off its 2023 acquisition of Cherry Creek Mortgage, has expanded…
Continue reading →So far in New Hampshire, the Fed’s interest rate cut in September that was meant, in part, to ignite a more balanced housing market by lowering home mortgage interests has been a dud. On Sept. 18, the Federal Reserve announced a 50-basis point (bps) interest-rate reduction, marking the first cut…
Continue reading →HousingWireHousingWire After delivering two straight quarterly losses to start this year, mortgage technology company Blend Labs predicted correctly that it would soon move into the black by one key accounting measure, finally delivering a non-GAAP operating profitability third-quarter 2024 earnings. The earnings report, released Wednesday, revealed that Blend’s GAAP loss…
Continue reading →HousingWireHousingWire One day after Donald Trump’s victory in the U.S. presidential election, officials at the Federal Reserve announced their decision to cut the benchmark interest rate by 25 basis points to a target range of 4.5% to 4.75%, a move that aligned with market expectations. The reduction, made public on…
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