WAFD Misses on Q1 Earnings, Exits Single-Family Mortgage Lending
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WaFd reported lower-than-expected earnings for fiscal Q1 due to higher expenses, despite a rise in revenues and no provisions. The company is exiting the single-family mortgage lending business.
January 17, 2025 | 1:45 pm
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WaFd's fiscal Q1 earnings were below expectations due to increased expenses, although revenues rose and there were no provisions. The company is exiting the single-family mortgage lending sector.
The earnings miss is likely to negatively impact WaFd's stock price in the short term. Exiting single-family mortgage lending could be seen as a strategic shift, but the immediate effect of the earnings miss is more pressing.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100