Record Origination Volume
The originations team delivered volume growth of 39% year-over-year and 26% versus the prior quarter, outperforming the industry and public peers.
Strong Financial Metrics
Adjusted pretax income was $31 million with an annualized adjusted return on equity of 25%, exceeding both quarterly and year-to-date guidance.
Book Value Growth
Book value increased to $62 per share, up 5% versus the prior year.
Servicing Portfolio Growth
Ending total servicing in the third quarter was up $17 billion or 6% year-over-year.
Improved Recapture Performance
Recapture volume was 1.8x the prior year level, with a refinance recapture rate of 85% for loans originated by the consumer direct channel.
Technological Advancements
Investments in AI and technology improved business performance, customer experience, and enabled a highly competitive platform.
Subservicing Growth
Signed 9 new clients this year, with subservicing additions expected to continue growing into 2026.