Wells Fargo Ending Renovation Mortgages
Wells Fargo & Co.'s home lending unit will no longer offer renovation mortgage products due to the complexity and risk of the loans.
Staffing, Servicing Grow at Lake Michigan CU
Despite a drop in quarterly home-lending volume at Lake Michigan Credit Union, the size of the mortgage servicing portfolio and payroll expanded.
PHH Mortgage Production Drops, More Decline Ahead
Loan originations moved lower at PHH Mortgage and are likely down even more in the current quarter. The servicing portfolio was further reduced.
Investors Baffled Over OCC's Closure of WI Bank
Investors who were on the verge of pumping $100 million into a Wisconsin bank were baffled last week when a federal regulator shut down the bank.
Failed Wisconsin Bank to Cost FDIC Nearly $150 Mil
A financial institution in Wisconsin was the fifth federally insured bank failure this year -- costing the Deposit Insurance Fund nearly $150 million.
NCUA RMBS Recoveries Surpass $5 Billion
Just two days after over $0.4 billion was collected for losses suffered on residential mortgage-backed securities by failed corporate credit unions, recoveries have climbed past $5 billion.
$445 Million RMBS Settlement at UBS
UBS has paid $445 million to settle alleged investor losses on residential mortgage-backed securities it peddled before the financial crisis.
Nearly $1 Billion in FDIC Losses from Bank Failure
Last week's failure of a bank in New Orleans is likely to cost the the bank deposit fund nearly $1 billion. More credit unions than banks have failed so far this year.
Big Drop in HomeStreet Mortgage Originations
HomeStreet Inc.'s quarter-over-quarter decline in residential lending was at the high end of the industry. Mortgage servicing, however, grew.
Flagstar CEO Running Mortgage Business
The chief executive officer of Flagstar Bancorp Inc., himself, is jointly running the bank's mortgage banking business until a permanent replacement is found, the earnings report said.