Company Overview - Rocket Companies is a financial technology firm that operates in mortgage, real estate, and personal finance sectors, with segments including Direct-to-Consumer and Partner Network [1] - The Direct-to-Consumer segment allows clients to interact with Rocket Mortgage online and includes services like title insurance and appraisals [1] - The Partner Network segment focuses on expanding marketing and influencer relationships and mortgage broker partnerships through Rocket Pro [1] Market Position - Rocket Companies is the No. 1 mortgage originator in the United States, gaining market share through a technology-first approach to mortgage processing [4] - The company can originate loans at about one-third of the cost of its peers and close loans in an average of 21 days, compared to 45 days for competitors [4] Stock Performance and Ownership Structure - Despite its competitive advantages, Rocket's share price has declined over 29% since its IPO in August 2020, trading at a single-digit price-earnings multiple [4][5] - The company's ownership structure is complex, with founder Dan Gilbert retaining over 80% of voting power through a preferred share class, resulting in a public float of only about 7% [5] - Rocket plans to increase its public float to 35% and simplify its share structure from four classes to two, which may attract more institutional investors [6] Future Growth Potential - The integration of artificial intelligence (AI) is seen as a key driver for Rocket's growth, enhancing operational efficiency and profitability [7] - Rocket's market share could potentially grow from its current high single-digit percentage to 15%-20% organically, with further growth possible through mergers and acquisitions [7] - The company is well-positioned to lead in the mortgage industry due to its technological capabilities and the experience of its new CEO [7] Investment Perspective - ValueAct Capital has taken a 9.99% ownership stake in Rocket Companies, indicating confidence in the company's potential [2][3] - ValueAct's experience with AI and its history of successful investments in controlled companies suggest a strategic alignment with Rocket's growth trajectory [8]

Financial Performance - LoanDepot achieved a FY20 volume of $101 billion[26] - The company reported a FY20 net income of $20 billion[27] - Adjusted EBITDA for FY20 reached $21 billion[30] - The UPB (Unpaid Principal Balance) of the servicing portfolio is $103 billion[29] Origination Strategy - LoanDepot's origination strategy is differentiated and built for all markets[17] - The retail strategy generated $80 billion in FY20 volume[18] - The partner strategy contributed $21 billion in FY20 volume[18] - The retail/partner volume split is 80%/20%[28] Servicing Portfolio - 24% of the servicing portfolio is in active forbearance[31] Company Overview - LoanDepot is described as a founder- & CEO-led 11 Year Old Company[20]

Core Viewpoint - Altisource Portfolio Solutions S.A. will implement a 1-for-8 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share, effective May 28, 2025 [1][2][4] Group 1: Share Consolidation Details - The reverse stock split will reduce the number of issued and outstanding shares from approximately 88,951,925 to about 11,118,990 [4] - The consolidation will not change the authorized number of shares, and no fractional shares will be issued; instead, shareholders will receive cash for any fractional shares [3][4] - The new CUSIP number for the shares post-consolidation will be L0175J 138, and trading will continue under the symbol "ASPS" [2][4] Group 2: Approval and Process - The board of directors approved the share consolidation on March 16, 2025, and it was subsequently approved by shareholders on May 13, 2025 [4] - Equiniti Trust Company, LLC will act as the exchange agent for the share consolidation, providing instructions to shareholders regarding the exchange of stock certificates [5]

NEW YORK, May 22, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Rocket Companies, Inc. ("Rocket Companies" or the "Company") (NYSE: RKT) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rocket Companies investors who were adversely affected by alleged securities fraud between March 29, 2021 and April 1, 2021. Follow the link below to get more information and be contacted by a member of our team: https://www.zlk.com/pslra-1/rocket ...

Group 1 - Fortis Inc. (FTS) is a Canadian electric and gas utility company with a Zacks Rank 1, and its current year earnings estimate increased by 4.2% over the last 60 days [1] - Fortis' shares have gained 9.5% over the last three months, while the S&P 500 declined by 1%, indicating strong performance [1] - The company has a Momentum Score of A, reflecting its strong momentum characteristics [1] Group 2 - MGIC Investment Corporation (MTG) is a mortgage insurance company with a Zacks Rank 1, and its current year earnings estimate increased by 1.8% over the last 60 days [2] - MGIC's shares have gained 8.9% over the last three months, compared to the S&P 500's decline of 1%, showcasing solid performance [2] - The company possesses a Momentum Score of B, indicating good momentum characteristics [2]

NEW YORK, May 22, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Rocket Companies, Inc. (NYSE: RKT).Shareholders who purchased shares of RKT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/rocket-companies-inc-loss-submission-form/?id=149539&from=4 CLASS PERIOD: March 29, 202 ...

Group 1: Fortis Inc. (FTS) - Fortis Inc. is a Canadian electric and gas utility company with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for Fortis' current year earnings has increased by 4.2% over the last 60 days [1] - Fortis has a dividend yield of 3.6%, which is higher than the industry average of 3.1% [1] Group 2: MGIC Investment Corporation (MTG) - MGIC Investment Corporation is a mortgage insurance company with a Zacks Rank 1 [2] - The Zacks Consensus Estimate for MGIC's current year earnings has increased by 1.8% over the last 60 days [2] - MGIC has a dividend yield of nearly 2%, compared to the industry average of 1.7% [2]

NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Rocket Companies, Inc. (NYSE: RKT). Shareholders who purchased shares of RKT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/rocket-companies-inc-loss-submission-form/?id=149358&from=3 CLASS PERIOD: March ...

Ellington Credit (EARN) Q1 2025 Earnings Call May 21, 2025 11:00 AM ET Company Participants Alaael-Deen Shilleh - Associate General Counsel & SecretaryLaurence Penn - CEO, President & DirectorChristopher Smernoff - Chief Financial OfficerGregory Borenstein - Portfolio ManagerEric Hagen - Managing DirectorCrispin Love - Director Operator all sites on hold, we appreciate your patience and ask that you please continue to stand by. Please standby, your program will begin momentarily. Good morning, ladies and ge ...

Financial Data and Key Metrics Changes - For calendar Q1, the company reported a net loss of $0.23 per share and adjusted distributable earnings of $0.26 per share [9] - The overall net interest margin increased by 20 basis points to 5.27, supported by a growing capital allocation to CLOs [9] - The economic return for the quarter was negative 3.2%, with book value per share at $6.08 [10][11] Business Line Data and Key Metrics Changes - The CLO portfolio increased by 46% to $250 million, while capital allocated to CLOs expanded to 81% from 72% at the end of the previous quarter [11] - The agency RMBS holdings decreased slightly to $504 million from $512 million at the end of the previous quarter [11] - The portfolio P&L by strategy showed a negative $0.24 per share from CLOs and a positive $0.08 from agency [10] Market Data and Key Metrics Changes - The market experienced strong performance in January and February, followed by turbulence in March due to fears of tariffs, slowing growth, and persistent inflation [7] - Credit spreads widened significantly in March, impacting CLO mezzanine debt and equity tranches, leading to meaningful price declines [7][8] - Recent tariff de-escalations have led to credit spreads and prices reversing course in May, recovering a significant portion of the declines [8] Company Strategy and Development Direction - The company successfully completed its conversion to a registered closed-end fund and changed its fiscal calendar to begin on April 1 [4][5] - The strategy focuses on increasing the CLO portfolio while maintaining liquidity and flexibility in response to market conditions [22][29] - The company plans to add corporate debt to its liability structure later this year, which should be accretive to net investment income [29] Management's Comments on Operating Environment and Future Outlook - Management noted that while there were mark-to-market losses in calendar Q1, most price declines were driven by credit spread widening rather than realized credit losses [22] - The company is optimistic about deploying capital in a compelling market and believes it is well-positioned to drive strong earnings moving forward [29] - Management expects to be slightly short on dividend coverage in the second quarter but is on track for recovery in the third quarter [56] Other Important Information - The company disposed of all remaining mortgage positions shortly after April 1, which allowed for increased liquidity and buying power [8][25] - As of April 30, approximately 18.8% of the total portfolio, or about $59 million, was in cash and cash equivalents, providing ample dry powder for deployment [27] Q&A Session Summary Question: How does the yield on newly acquired CLOs compare to the previous $250 million? - Management indicated that the weighted average yield varied from slightly wider to potentially hundreds of basis points back, depending on the type of assets purchased [34] Question: Is there still dry powder available for deployment? - Management confirmed that there is still good dry powder available and that cash reserves are maintained to allow for increased portfolio size [37][39] Question: What are the latest thoughts on the ADE trajectory? - Management stated that they might be slightly short on covering the dividend in the second quarter but are on track for recovery in the third quarter [56]