4th Bank Failure of 2016
For the fourth time this year, a federally insured bank has failed. This time it was a financial institution out of the South.
FDIC Settlement Nets Chase Over $600 Million
A settlement reached between JPMorgan Chase & Co.'s banking unit and the Federal Deposit Insurance Corp. will cover more than $600 million in litigation costs paid by the bank.
Mortgage M&As Move Forward
A home lender that focuses on the Hispanic market recently received an equity injection. Two other mortgage businesses were acquired, while another is part of a bank acquisition.
Mortgage Business Expands at Caliber Home Loans
Quarterly mortgage lending shot up at Caliber Home Loans Inc. as the servicing portfolio increased and the size of the staff expanded.
Fastest Growing Mortgage Firms
Inc. magazine is out with its list of the fastest-growing companies in America, and there were four mortgage-related firms that ranked among the top 500.
loanDepot Obtains $150 Million in Debt Financing
loanDepot Inc., which decided to put a planned initial public offering on hold late last year, has now tapped the debt markets for $150 million.
Arch M.I. to Buy Far Bigger Rival United Guaranty
With the upcoming acquisition of its much larger rival, Arch Mortgage Insurance Co. will become the biggest mortgage insurance company in the industry.
Sterling Bancorp Unloads Mortgage Business
Sterling Bancorp has followed through with its plan to sell its mortgage business. The buyer in the transaction is a non-bank that ranks among the nation's biggest home lenders.
2 C-Suite Moves Among Mortgage Executive Activity
In addition to a pair of C-Suite appointments, recent mortgage executive activity includes a C-Suite firing and mid-level movement.
Walter Investment MSR Sale Drives Public Offering
A company that acquired mortgage-servicing rights on more than $70 billion in loans from Walter Investment Management Corp. is planning a public offering to help fund the transaction.