Bank Performance Improves
Over the past year, banks and thrifts have reduced their mortgage holdings and improved their earnings. More recently, the number of bank employees rose -- though so did the number of troubled institutions.

Behind-the-Scenes Look at Collapse of Wachovia, WaMu
It was nearly four years ago that Washington Mutual Bank and Wachovia went into a tailspin and were eventually deemed insolvent. A behind-the-scenes look at the demise of the two companies by a regulatory insider reveals two different strategies used in resolving the institutions.

Employees Await Fate as Subprime Servicer Acquired
The acquisition of a servicer in California has hundreds of employees wondering whether they will be laid off. The deal involves servicing rights on more than 100,000 mortgages.

Lender's NFL Tickets Auctioned by IRS
A Texas-based mortgage lender's problems with the Internal Revenue Service landed six prime NFL season tickets on the auction block. An affiliate of the company also faces accusations by state regulators of defrauding consumers.

Merger Creates Top-10 Subprime Servicer
An upcoming acquisition of a default servicer is expected to create a new top-10 servicer of subprime mortgages and boost demand for servicing portfolios.

Credit Union Growth Slows, Delinquency Mixed
Credit unions saw quarterly growth in outstanding loans, deposits and membership -- albeit at a nominal rate. Late payments rose on fixed-rate mortgages but improved on loans with adjustable rates.

Furious Pace of Regulatory Actions Continue
There were no shortage of regulatory actions against financial institutions over the past month. Officials are meeting this week to discuss regulation of the largest financial services companies.

Wholesaler Launching
A company that originates more than $3 billion a year in retail business is launching a third-party channel that will focus on government programs. The expansion into the mortgage broker arena follows similar moves recently by other wholesale lenders.

Credit Union Consolidation Ahead in SoCal?
SAN DIEGO -- The chief executive of a credit union in Northern California is leaving to run a smaller institution in Southern California. Some see the move as a signal that a wave of credit union mergers is ahead.