Prison for Former Executives of Failed MO Firm
A third senior executive has admitted his role in a bank fraud scheme that kept a Missouri company afloat as it racked up a huge deficit.
Merger Creating Sizable Lender
The acquisition of one Utah-based mortgage firm by another has created a company with more than 2,000 employees and over 200 branches.
PNC Mortgage CEO Leaving Due to Family Issues
Less than two years after taking the job, the chief executive officer of The PNC Financial Services Group Inc.'s mortgage business is resigning.
Mortgages and Membership Grow at Credit Unions
Although the number of U.S. credit unions continued to contract, total real estate loan assets and credit union membership grew.
Mortgage Servicing Efficiency Increases
Mortgage servicers were able to handle more loans per employee during the latest quarter. Income, however, dropped from a year earlier because of losses on the valuation and hedging of mortgage servicing rights.
Production Earnings Off Despite Increased Biz
Although higher mortgage originations help reduce per-loan expenses, a decline in secondary marketing income more than offset lower expenses.
Bank Employment and Mortgage Originations Decline
The number of federally insured banks in business continued to diminish -- as did mortgage originations, assets and employees. Earnings and commercial mortgage holdings, however, grew.
Major Mortgage Player Emerging from Merger
The acquisition of an East Coast player by a West Coast mortgage banker will create a company that will rank as one of the country's 15 largest home lenders.
Mortgage Mergers Wagon Rolling
As mortgage firms shift from organic growth to expansion through strategic acquisitions, some big deals have recently emerged.
Ocwen Affiliate Abandoning Force-Placed Insurance
In the current regulatory environment, Ocwen Financial Corp.'s service provider affiliate has decided to get out of the business of lender-placed insurance.