Financial Data and Key Metrics Changes - Ellington Financial reported GAAP net income of $0.45 per share, with an annualized economic return of nearly 14% and book value per share increasing to $13.49 [4][15] - Adjusted distributable earnings (ADE) per share increased by $0.08 to $0.47, significantly exceeding the $0.39 dividends per share [4][10] - The total economic return for the second quarter was 3.3% non-annualized [15] Business Line Data and Key Metrics Changes - The Longbridge segment contributed $0.13 to ADE, driven by strong performance in origination profits and servicing income [7][12] - The credit portfolio saw net interest income grow sequentially, with positive results from equity investments and loan originators [11] - The adjusted long credit portfolio increased by 1% to $3.32 billion, with growth in commercial mortgage bridge loans and non-QM loans [13] Market Data and Key Metrics Changes - The agency portfolio experienced a modest loss due to volatile yield spreads, while the Longbridge portfolio decreased by 1% sequentially [11][14] - The weighted average borrowing rate on recourse borrowings decreased by two basis points to 6.07% [14] Company Strategy and Development Direction - The company is focused on vertical integration and expanding partnerships with mortgage originators to secure a steady pipeline of high-quality loans [18][19] - Ellington Financial aims to strengthen its liability structure through additional securitizations and increasing unsecured borrowings over time [29][68] - The company is exploring opportunities in new loan sectors as GSEs potentially shrink their footprint [22][79] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the third quarter, citing strong performance across investment portfolios and origination platforms [27] - There is a cautious outlook on home price appreciation, with expectations for muted growth nationally [42][43] - The company is monitoring economic indicators closely and adjusting lending guidelines in response to market conditions [25] Other Important Information - The company completed six securitizations in the second quarter, a record for Ellington Financial, enhancing the stability of its balance sheet [20] - The Longbridge HELOC for Seniors program was launched, which management believes could become a meaningful contributor to earnings [28][64] Q&A Session Summary Question: Outlook for Longbridge and impact of declining rates - Management indicated that declining rates would increase the attractiveness of reverse mortgages, leading to higher origination volumes [33][34] Question: Impact of increased volumes in other mortgage asset types - Management noted that originators are primarily focused on non-QM and residential transition lending, with potential shifts depending on market conditions [38] Question: Outlook on home prices and credit spreads - Management observed a broadening weakness in home prices and is pricing for risk accordingly, with expectations for muted home price appreciation [42][43] Question: Opportunities in mortgage originator space - Management is focused on making equity investments in platforms they know well, securing volume with smaller investments [48][49] Question: Credit quality and workouts - Management reported one significant workout remaining, with overall resolutions moving through the pipeline quickly and minimal drag on earnings [54][57] Question: Long-term run rate earnings contribution from Longbridge - Management expressed optimism about Longbridge's contributions exceeding previous expectations, particularly with the new HELOC product [63][64] Question: Thoughts on dividend trajectory - Management is confident that earnings will continue to cover the dividend, with potential for an increase in the future [100][102]

Group 1 - Jyske Realkredit plans to conduct auctions for refinancing on August 26 and 27, 2025, for loans in cover pool E, with a total refinancing amount of 3,600 million DKK for each day [1][4] - The auction will be held on Bloomberg's auction system, with bids required to be in multiples of 1,000,000 DKK and specific decimal accuracy depending on the bond maturity [4][5] - All auctioned bonds are rated AAA by S&P, indicating a high credit quality [8] Group 2 - The value date for all trades executed at the auction will be October 1, 2025, and the bonds will be subject to long settlement [6] - Jyske Realkredit offers a reverse facility for auction participants who need the bonds sooner, allowing them to sell allotted bonds with a repurchase agreement for the value date of October 1, 2025 [7][8] - The company reserves the right to change or postpone the offering based on loan disbursements during the auction period, with notifications to be made if a sale must be canceled [10][11]

Financial Performance - For the three months ended June 30, 2025, net income increased by 13.4% to $9,674,154 compared to $8,533,772 for the same period in 2024 [2] - Net income for the six months ended June 30, 2025 increased by 14.9% to $19,647,419, compared to $17,103,556 reported for the same period in 2024 [2] - Basic weighted average earnings per share for the three months ended June 30, 2025 was $0.263, compared to $0.247 per share for the same period in 2024 [3] Dividend Information - Distributions per share to shareholders for the second quarter ended June 30, 2025 totaled $0.234, consistent with the previous year [3][8] - The Corporation declared a monthly cash dividend of $0.078 per common share, payable on specified dates [6][7] - Total dividends declared for the three months ended June 30, 2025 were $8,596,366, compared to $8,070,758 in 2024 [8] Investment Portfolio - The investment portfolio decreased by 4.5% to $624.4 million as of June 30, 2025, from $653.8 million as of December 31, 2024 [4][6] - New investment funding for the six months ended June 30, 2025 was $133.4 million, down from $173.4 million in 2024, while repayments increased to $162.8 million from $111.2 million [4] - The average face interest rate on the total gross carrying amount of the investment portfolio was 9.78% per annum, down from 10.07% at December 31, 2024 [6] Credit Losses and Fair Value Adjustments - The allowance for expected credit losses and fair value adjustment as of June 30, 2025 was $32.9 million, up from $29.6 million at December 31, 2024 [5] - This allowance includes $26.1 million representing management's estimate of the shortfall between investment balances and estimated recoverable amounts [5] Company Overview - The Corporation operates as a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing [9] - The investment objective is the preservation of shareholders' equity while providing a stable stream of monthly dividends [9]

Financial Performance - Originations reached $67 billion, aligning with guidance[11] - Total revenue was $2825 million, with an adjusted revenue of $2919 million[11] - Total expenses decreased by approximately 2% compared to the first quarter of 2025[11] - The company experienced an adjusted net loss of $16 million and an adjusted EBITDA of $26 million[11] - Unrestricted cash stood at $409 million[15] Operational Highlights - Purchase mix increased to 63% of originations, up from 59% in the first quarter of 2025[12] - The servicing portfolio's unpaid principal balance (UPB) increased to $1175 billion[12] - Retention rate for loans sold was 62%[12] - The company's unit market share was 159 basis points, compared to 187 basis points in the first quarter of 2025[13] Outlook - Q3 2025 pull-through weighted rate lock volume is projected to be between $525 billion and $725 billion[40] - Q3 2025 origination volume is expected to be between $50 billion and $70 billion[40]

Core Insights - Atrium Mortgage Investment Corporation reported strong financial results for Q2 and the first half of 2025, with earnings per share exceeding dividends [3][5] - The company anticipates a decrease in new business volume in the latter half of 2025 due to reduced market activity, while maintaining a conservative risk profile [3][5] Financial Performance - For Q2 2025, Atrium's assets increased to $899.0 million from $864.3 million at the end of 2024 [5] - Net income for Q2 2025 was $13.1 million, a 13.7% increase from the same quarter in the previous year [5] - For the first six months of 2025, net income reached $25.0 million, up 6.1% year-over-year [5] - Basic and diluted earnings per share for Q2 2025 were $0.28 and $0.27, respectively, reflecting increases of 7.7% and 3.8% compared to the previous year [6] - The mortgage portfolio as of June 30, 2025, was valued at $921.2 million, with a weighted average interest rate of 9.30% [9][7] Mortgage Portfolio Analysis - As of June 30, 2025, 96.8% of the portfolio consisted of first mortgages, and 94.8% of the portfolio had a loan-to-value ratio of less than 75% [9] - The average loan-to-value ratio was 61.3% [9] - The mortgage portfolio included 73.2% residential properties and 26.8% commercial properties [11] Dividends and Shareholder Information - Dividends declared for Q2 2025 amounted to $11.0 million, compared to $10.0 million in the same period last year [10] - Shareholders' equity at the end of Q2 2025 was $524.3 million, with a book value per share of $11.02 [10]

Core Viewpoint - Freddie Mac expands its CHOICEHome financing options to include modern single-section factory-built homes, aiming to increase the availability of affordable housing and provide innovative financing solutions for lenders [1][2][3]. Group 1: Financing Expansion - The CHOICEHome mortgages will now cover modern factory-built single-section homes, effective August 6, 2025, encouraging more buyers and builders to consider these homes [2][3]. - The mean price of the newly accepted single-section home is approximately $200,000, while traditional single-family site-built homes average over $500,000, highlighting the affordability of the new financing option [3]. Group 2: Industry Impact - Freddie Mac's initiative is expected to enhance affordable homeownership and increase the housing supply, particularly benefiting first-time homebuyers [3][4]. - The inclusion of single-section homes in the CHOICEHome program is celebrated by industry leaders, indicating a collective effort to provide attainable and energy-efficient homeownership [3][4]. Group 3: Construction Standards - CHOICEHome financed manufactured homes must meet specific construction standards, including features like permanent foundations and energy-efficient designs, facilitating integration with existing neighborhoods [5].

CHICAGO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Guaranteed Rate Affinity, a leading mortgage provider offering unparalleled lending services through its partnership with Coldwell Banker, today announced the appointment of Tom Griffith as Regional Manager in the Pacific Northwest, underscoring the company's commitment to expanding its presence and recruiting top talent in one of the country's highest growth markets. Disclosures: Guaranteed Rate owns a controlling 50.1% stake in Guaranteed Rate Affinity, and Anywh ...

WASHINGTON, Aug. 5, 2025 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its twenty-seventh non-performing loan sale transaction. The deal, announced on July 8, 2025, included the sale of 1,304 deeply delinquent loans totaling $285 million in unpaid principal balance (UPB), offered in two pools. The winning bidder for Pool 1 was Residential Credit Opportunities Trust X-C, and for Pool 2 was RCF II Loan Acquisition, LP. The transaction is expected to close on September 19, 2025. The d ...

Group 1 - Atrium Mortgage Investment Corporation declared a dividend of $0.0775 per common share for August 2025, payable on September 11, 2025, to shareholders of record on August 29, 2025 [1] - The company currently pays monthly dividends at an annual rate of $0.93 per share, with a potential special dividend at year-end if declared dividends are less than taxable income for the fiscal year [2] - Atrium will release its financial results for the quarter ended June 30, 2025, on August 7, 2025 [2] Group 2 - A conference call with management is scheduled for August 8, 2025, at 9:00 a.m. ET to discuss the financial results [3] - Atrium offers a dividend reinvestment plan (DRIP) allowing shareholders to reinvest dividends in new shares at a 2% discount from market price, with no commissions [4] - Atrium is a non-bank provider of residential and commercial mortgages, focusing on major urban centers in Canada, aiming to provide stable dividends and preserve shareholders' equity [5] Group 3 - Atrium is classified as a Mortgage Investment Corporation (MIC) under the Canada Income Tax Act, allowing it to avoid taxation on income if dividends are paid to shareholders within 90 days after year-end [6]

Financial Data and Key Metrics Changes - Adjusted EBITDA for the second quarter increased to $591 million from $524 million in the prior period, reflecting improved underlying operating performance and tax benefits [18][19] - Adjusted EFO for the quarter was $234 million, benefiting from lower interest expenses due to reduced corporate borrowings compared to the prior period [18] Business Line Data and Key Metrics Changes - The Industrial segment generated adjusted EBITDA of $307 million, an increase from $213 million in the previous year, supported by tax benefits and contributions from recent acquisitions [19] - The Business Services segment's adjusted EBITDA rose to $205 million from $182 million last year, aided by increased volumes of new insurance premiums and stable performance in technology services [20] - The Infrastructure Services segment's adjusted EBITDA decreased to CAD 109 million from CAD 157 million, primarily due to the sale of the offshore oil services shuttle tanker operation [21] Market Data and Key Metrics Changes - The U.S. economy showed resilience with stabilized GDP expectations and low unemployment, while Europe is seeing increased stimulus spending [11][13] - The GCC markets in the Middle East remain strong, and India continues to be a growth economy [13] Company Strategy and Development Direction - The company is focused on acquiring high-quality, market-leading businesses with strong competitive advantages, which allows for pricing power and resilience against economic fluctuations [14] - The strategy includes leveraging secondary market opportunities to surface value and enhance shareholder returns through buybacks and reinvestments [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the operating environment, noting that while there are challenges, the principles of acquiring high-quality businesses are serving the company well [14][15] - The company is confident in its ability to maintain or increase margins despite economic slowdowns, with a focus on optimizing operations and integrating recent acquisitions [15][16] Other Important Information - The company has realized over $800 million from asset sales and distributions while investing $300 million in acquiring two market-leading businesses [6] - The company ended the quarter with approximately $2.9 billion in corporate liquidity, providing options for capital allocation [21][22] Q&A Session Summary Question: Performance of Scientific Games - Management acknowledged that while hardware deliveries were lower, the overall EBITDA performance was flat, and they remain positive about the business's future growth potential [26][29] Question: Repositioning of Brand Safeway - Management noted that they are repositioning the business towards higher growth markets, although they expect volume softness to continue through the second half of the year [30][32] Question: Leveraging AI for Productivity - Management highlighted numerous AI initiatives across the portfolio that have led to significant operational improvements and cost savings [35][41] Question: Impact of the Big Beautiful Bill - Management expects the provisions in the bill, including accelerated depreciation, to be net positive for the business, enhancing flexibility and reducing tax burdens [42][44] Question: Secondary Transaction Insights - Management explained the decision-making process behind the secondary transaction, emphasizing the strategic choice of assets and the favorable terms achieved [52][55]