CRE Lending at Failed Bank Focus of FDIC Lawsuit
Former directors and executives of Bradford Bank are accused in federal lawsuit of disregarding prudent lending practices on commercial real estate loans.
New Penn Financial Acquires Mortgage Servicer
The acquisition of a mortgage servicing firm by New Penn Financial LLC is increasing the company's servicing portfolio by around $13 billion.
Lennar Closing Wholesale Unit
Lennar Corp.'s wholesale lending business is calling it quits, bringing to four the number of wholesalers that have closed down this year. Among other recent mortgage-related casualties were two banks, one credit union and a mortgage trade group.
Nationstar Reports Quarterly Loss, Falling Originations
Quarterly production tumbled by nearly a third at Nationstar Mortgage Holdings Inc. and is poised for a further decline. Pre-tax earnings swung to a loss.
Guaranteed Rate Goes On Acquisition Spree
Guaranteed Rate has acquired three mortgage firms in a move that is likely to add hundreds of million of dollars in annual originations.
Reverse Lenders Among Mortgage Firms Acquired
|Bank Failures Fall to 6-Year Low
The rate of bank failures in 2013 slowed to the lowest level in six years, helping to drive down overall mortgage-related casualties by more than a quarter. Several wholesale lenders have recently closed down.
Among several mortgage company acquisitions that have recently closed are three reverse mortgage companies. A servicer and a commercial mortgage lender also changed owners.
Warehouse Lender Being Acquired
An offer has been made to acquire the parent company of a mortgage warehouse lender operating from Texas.
Wingspan Continuing Along Acquisition Trail
Wingspan Portfolio Advisors has already picked up three operations during the past year, and it's prepared for more acquisitions if the right opportunity arises.
Growth Through Branch Expansion
Some mortgage bankers continue to execute their tried-and-true growth strategy of recruiting existing branch operations, while other focus on opening brand new branches.