for thanks us. Thanks, morning, everyone. Kait. Good And joining
was The one. a second our quarter for company good very
purchase. book While before quarter-over-quarter our When maintain markets our the are stable value, challenging, to it grew capital caliber value earnings. actual the created and we you related book think about raise
line with were taking Our in in core account earnings QX into $X.XX dilution.
for rate The the in we game our our is $X.XX. feel the which changer that I is you interest announced And company take frankly, roughly environments. a away well extremely quarter very quite So the our dilution company. acquisition early earnings industry. core if for Caliber positioned strongly low
are in compete position now anybody. against a to We
companies, to will us shareholders the come. the able the products to be both different both personnel results excellent of offer further companies, with to homeownership. sheer dream across the scale and for Caliber helping all enable leadership business drive side our of our to of of many the channels, technology years will on The homeowners We of for
rates While the they stay rates we company our coupled rise will production with that in we to rise believe excellent the will machine slowly levels, these the grow capture interest MSRs. extent us around enable portfolio our combined or of to
We business. excited our operating are super about
side, the a portfolio investment great continues the do On job. to team
Our financing been better. business has never
financing than We market moved our away have to all MBS. essentially if daily agency most other not mark of from
EBO we is MSRs. going business businesses level forward on EBOs Essentially would of call what our portfolios this I Our call back REITs, call continues pre-COVID and our proprietary and to levels with grow. rates to will focus own
this family We seeking homes single and capital currently markets will patient have deploy of XXXX rates in and deployment we level been to on remain are today spreads business rental the capital credit a On opportunistically. have where with homes. acquiring
leader weeks. intend Looking forward, grow the this great really will we we in announce and hired management and a team have upcoming business that to
and we view, force see rates macro hand should will our strong some point Regarding Feds the higher the economy ahead. at
has purchases, should and Powell for economy begun. from signals that improved while the mentioned committee asset we earnings. are higher we clock anything the ready they the are create on our The and and As will business Chairman maintain here will before yesterday operating stay has tapering
and very lines. investment the and maintain ability price, in on confident Regarding earnings business combination drive of our to and operating our our we companies our Through higher a feel earnings future. stock
I'll our will lines. published has to write been recent taken with equity While our which stock ahead on prices itself. now raise our I'm value potential hopefully our currently book weeks at after the capital in going refer XXXX back help supplement in billion, paid capital shareholder inception going When X. a approximately page since $X.X current company equity in of dividends billion you since about time billion. with and XX% inception, $X $X.X start we to return think market today, book our earnings
the we the On owner servicing these bank to in our non And side mortgage company are On have of new only. mortgage we assets. largest are $XX investment billion and reads numbers specific rights. portfolio
non-bank did pre-tax During billion status QX we a $XX.X of $XX.X And top our origination, as we in million. income maintain originator. XX mortgage
complimentary service. Residential. with income an portfolio apart? I'd Page do our same pre-tax we maintain How of to And businesses. set us we manager non-bank everybody XX X, as as top $XXX like million. investment status servicing a billion, the New operating again, Our ourselves $XX.X mortgage think
call that our think mean? what does When rights. about we have So portfolios, we
We have MSR portfolios. our
we We continue as linked our we in look and which at hunt opportunistic side, think MSR ourselves our are have When portfolios. operating the to company about for to EBOs opportunities mortgage investors.
drive and rise believe the portfolio believe On which help and do MSR we and as go we when higher we more flow if value, opportunity higher net core book forward. rise that earnings we cash will have rates significant upside will net they
has sheet balance stronger. Our never been
be and sheet. country other our out We rolling the homeowners. combination NewRez that and earnings drive we and with that the products $X.X arm have think machine you new of with we three will when just we caliber balance product originator to ability help can investments, of cash higher announced growing. non-QM billion expect and When we operating purchase top purchase, cash, of plenty in about products, of about for Caliber think to we're the believe a will we that We we and our mortgage create to when plenty about liquidity about likely liquidity think whatever four about and homeowners end after think create recently or or help the
and assets track shareholders will Our our delivering Again, or create go the income GAAP for the this equity track a million from to Caliber financial five, offering we again that reflects record, the to when our of look fund $X.XX highlights dilution net to of add as generating of share. is out then our since business portfolio ability quarter $XXX XX% And we purchase. income did forward. diversified before our returns further diluted pointed per record we earnings at I to inception. Page $X.XX
So of diluted roughly diluted of $X.XX. at book reflects pre $X equity the essentially, $XX.XX we June, of dilution where end look or X.X% bit on And value, yield that hand $XXX could value June think over end it per the stock of as equity billion. little about today net When $XXX.X dividend earnings of again, from as million at cash that $X.XX consistent you same, book million. per our equity offering. share, $X.XX with $X.XX. the you a issuance of share the $X.XX Core think dividend Common were, as
versus So it would that $XX.XX put quarter at $XX.XX. prior
rates And in is we simple total fund higher look will expand billion then When we acquisition economic poised at to and our just of the early portfolio recapture in Page the EBO and offering perform purchase, on Page raise is significantly, $XX.XX we environment. pre-capital April. $XX.XX to earnings the rate Again return call equity strategies capital loan Again X.X%. any in in our I how our about look drive value. hope the our a Our in post for X think strategies in quarter dramatically. rates gain deployed MSR company our X this positioned walk Caliber close the do quarter today pretty rise we If $XXX us originate, any environment. business. is Caliber book results? rate enable to to when which to the $X.X quarter rates. we we million percentages think our announcement
our of Our daily just portfolio. sheet balance mark-to-market sales X% total is exposure
On the we increased our quarter. NewRez previous up XX%. the XX% refinance recapture That's roughly rates of from side, to
Our direct to channel. consumer
despite fact QX. modest, in that rates the the a quarter we While the in backed had is gain gain actually up
We rights markets. which we called call since the collapses our mark-to-market Our and in QX the highest from to to capital and financing call collateral of saw MSR the shift $XXX portfolio, amount in continue million in quarter non-mark-to-market and strategy, we of bank rights XXXX.
Page are how the XX%. for we NRZ MSR So financing X profile all numbers acquisition; Caliber again current at it. of to are is and specific these NewRez. And paying
the to Caliber As Caliber purchase $X.XXX after from We're and cash the I pointed are start proceeds follows; as rates, XXXX company. we cash liquidity. again, agency of and earlier, will liquidity acquisition. liquidity of sheet. and to April liquidity do out result and on funds the including a both occurred from is paying acquisition to the we out our known equity The from parent in company. have origination securities liquidity closing the billion the billion how $X.X from caliber be equity with Caliber. sale combined and billion cash there billion expect projections about dividend which the cash then and has $X.X and price and already a and cash end we reduction post And calibers of balance that combined Page the that that's think will XX; purchase $XXX that to at expect to of of funding
bit $XXX billion. portfolio under servicing total a little Our
significant look see continue correspondent in on direct think for again that think and as consumer to lift at our at of as and earlier, our roughly numbers and I you and to overall forward slide it opportunity, to retail retail recapture grow we gain from direct going real results customers, numbers recapture we NewRez Here's The look company. about should you this think P&L channels. channels, been on Calibers XX%. consumer, of the be When XX% where we're changing compare margins production. recapture side we to have pointed our to and side, some about see and went to and out you terrific. direct XX% JV the retail those When go When the game we right the will wholesale more upper sale
results. So all all, in great
cash through wholesale XXX combined portfolio, servicing we MSR XXX more retail branches, all. direct drive retention. and from earning customer lenders have recapture loan system full partners, Page the party see our XXXX consumer retail XXX XX plus XXrd going X.X loan broker million portfolio correspondent As at in more customers we XXXX more flow and higher a platform. the to consultants, to clients; we're officers, MSR
good is two scale. have one not XX; volumes. increased about to revenue We to we're combination of go every this more and job. have to I team entire we once the at here. close way more really execute capture But technology of we Caliber Page lead Caliber our going through drive the we harping And we have cash on to side, improving and going done flow is think technologies Now a just we keep should companies. the cost have more what really going from call this to to the a others from around system Sanjiv on drive -- From which as synergies the I'm perspective economies deal. more and assist digitization bullet earnings. and the through a the
platform. around So we're prospect technology about excited the really the Caliber
untapped And we we We forward I work sources of clearly, we to we're to none from how Market think our we're that a sides. customer around while company. our go done of think going will thing here a in the think cross diversified volumes entire cost sell we're to offerings, product is page. want in think to about talk both I also going of we of we stuff capital XX. of the we're a ability gains again we all analytics will all right across improve on have base. see our expand think From highlight to across market, And Strategy, second here Capital, lot thing financing to data out have to base. really we our and that's significant side standpoint, The implement and on we funds our a in I customer execute. the going opportunities front. about lot one as the standpoint. And And share do have the Page the opportunity. bottom point capital. market that to technology we
$XX billion. XX will and As higher rate production. a early, did billion think X% roughly out $XXX in [indiscernible] it's we market add Think if an I way, do we go a about company And market that it this large we in environment. pointed extra through would share
between add up If about about net have for net billion just margins the that, the and in mix earnings and we there, think retail roughly production our product $XX and you JV XX% to if it's going of you a of think company. more
the to peers super again, business. on at we talked excited gain we street this And have and friends share. market So Page point. about our XX, the need again, in just everything
column middle think race special product and being and about you servicing all and currently services about the we and servicing in you If we're about talk you look when it at ancillary and you talk again. product doing mix have that a
us earnings to I Now I'm a on Page higher this. Similar it's execute get to in up. before. time drive price and to what going to stock be spend up for not that ton XX, shareholders going nature out pointed to of
Our platform we we about do from will [XX] profitability in and very our think platform great on strategy going growth to mortgage on have a lot retain as life implemented. service investment customers. be will we'll think of a Page platform, a things. that important. begin to grow for a expand a our and couple none. our customer of recapture our have continued rates side, there technology about the job When that. Caliber business portfolio, to continue work to again we investments XX the digital our to And customer standpoint. we We're and second How higher do that's have help standpoint very, drive Technology; portfolio,
mortgage Call this. we rights we to of still As billion have through spend leading call originator this. Think read going time rights. a more not about lot there. XX One
proprietary has call legacy $XX on the rights Nobody have market. billion of We non-agency that.
announcement mentioned run Ginnie about ability Mae from our be strategy acquisitions in single the we homes We're Ginnie from standpoint, an of to a XXX side five opportunity non-agency years. There to currently mentioned management weeks next to the billion great financing going again, have we perspective, legacy target more of we're collateral. new million as markets billion the in looking finance investment we team through EBO From deals. our ability also family none think I over couple beyond and investment think and will And in source a before EBOs XX to to a Our before that. page as $XX our second and capital balance more in quarter and a XXXX earnings that's are going Mae the business have drive EBO market. sheet. portfolio to I they called our $X rental on have quarter, the a in our
by We of Post units the XXX we agency purchased we our We of $XXX SFR grew sold XXX million securitize an cap During rate of residential with quarter million and securities million securities sold EBOs. agency of we portfolio of loans. million billion X.X%. and QX, XXX average X.X of $XXX residential loans.
billion on XXX% page $XXX as out the totaled Our non-daily June. origination. MSR XX MSR portfolio I new pointed On our our of earlier, are mark-to-market. of end at financings
New to QX. origination during compared X.XX% was quarter during X.XX% the
whack cash we're about and bit flow as this, higher earnings homeowners to time, here more to lower time. but desire QX, and believe leading we is be our slower these when will flowing, think rise interest So what you over of during the refinance lower lower changes will this little again rates the yes, to rates higher speeds trying over portfolio a $XXX than is as articulate
dark flow currently really and On third again we will portfolio NewRez servicing the being portfolios and rates couple party our speeds rates the Cooper, believe and friends platform, the gains XX cash summary since COVID just lead at in Page at MSR that our It's slowing bottom have you And think XX% days in at March further with in or serviced we and and portfolio our a origination think securitizations, markets. a right XX [indiscernible] capital of portfolio. about NRZ priced the servicing page. mind, financing. look LoanCare XXXX. relationships to keep portfolio a MSR seven the improving as about recapture how have others. XX% We of our side of then recapture is also currently our of of MSR we the
on and our in change, market actually, to a share. a or recapture value earnings in So lead a start change of rate X% with X% change change A change. for comments XX% common per X% portfolio a $X.XX will let's
on what recapture, again, focus to Page not earnings dead data calls horse here. recapture our huge beat of a huge digital since doing shareholders. amount higher XXXX. of I'm side on the to more clearly and and analytics, XX, focus on huge call right business. going drive focus on Largest we're Again, So a for QX
this I'm expect going credit loan to It's again interesting. our world our investment Call and We to look just out unmuted. broader advanced XX us going that think are own buy what think and will at business When our target the rights, you where continue to delinquencies EBOs proprietary lower trend page refer not for about balances as and about as to remain opportunities spreads is loans. collateral. we
Our of extent think mortgage opportunities pretty we When we businesses pipeline on will the in shrinking two in call you call market is what right also XXXX first that change interesting. on What are for to agency's a GSE back us things business saw the think GSE EBO saw occupied. The non-owner securities. that about deploy very mobile the interesting. a is during agency to a pull eligible of very is the with quarters footprint part provide robust capital early the agency we
the continue midwest, exposure, XXX,XXX create bottom owner to you southeast XXXX XX% opportunity look conforming again, southwest about us think rate average the targeting in we as little business. yields page, and mostly net could particularly shrinking SFR rate occupied units lifetime X.X%. our footprint. XX underwritten GSE to a loans. to the of cap for go Page a part XX%, in basis average left if balance currently, the geographic bit a forward, a as we another higher our for be part potential of and that Non-QM So non- environment growing will business
If you housing I have types a space. what about call have done different great know entering peers space this some and of would of in I a supply, think folks and firms this already lot and announced job
great Service think at our can some And to decreased has point what I will, opportunity here. the become. job during billion of HLSS when billion. outstanding lot month billion of for $XX billion financing about spend XX Baron $X.X XXXX back from have here and in had excited large team. will of this business team and why announcement with to take capital balances some to is we're through billion then up leadership again, mind time $X.X $X.X a advances financing with of we to we'll the going here. different we The on Page acquired that Baron keep you the $XX next and don't advances August They of questions. back continues a turn or not Average I of of couple open shrink done there. it operator amount to and these outstanding. advanced slides for