Retail funded-loan count rose 33% from the first quarter with stable sales capacity, while proprietary products gained traction by offering some borrowers more cash than HECMs
The lender is concentrating on wholesale, consumer retention, and servicing while handing off distributed retail and preparing for more than $65 million in annual technology savings
Platform volume overtook DTC, but costly enterprise integrations have yet to deliver, and new partnership growth is not expected until Q4
Redfin leads and servicing recapture lowered acquisition costs, while Rocket Pro posted a 0.69% margin amid investments in its Compass partnership
Home equity and purchase lending lifted production economics, while management characterized its relaunched wholesale channel as a supporting business rather than a major growth engine
Better’s Q1 results showed rising embedded mortgage volume, expanding HELOC production, and improving unit economics, even as net losses widened
Company highlights strength of strategic acquisitions, integrations, product innovations as it furthers its mortgage ecosystem
Company sees net loss of $23.9 million for quarter due to valuation adjustment on MSRs
Soon-to-be interim CEO Hsieh says company will focus on multi-channel sales model, proprietary tech stack, and servicing business
Even so, company’s net income for the quarter falls 82% YoY to $0.2 million