Credit Union Acquires Mortgage Banker
A mortgage banking firm with offices in five states that originates around $300 million a year has been acquired by a credit union.
PHH Dumping PLS, Selling GNMA Servicing
Drastic steps being taken by PHH Corp. will slash its mortgage production by more than three-quarters and reduce its servicing portfolio by nearly $15 billion.
Merger to Create Top-20 Mortgage Banker
An upcoming acquisition will create a mortgage banking firm with more than 3,000 employees that ranks among the nation's 20-largest home lender.
Huntington's Mortgage Earnings, Originations Climb
Mortgage earnings and originations at Huntington Bancshares Inc. improved as mortgage assets and servicing were boosted by an acquisition.
Mortgage Earnings, Originations Up at BBT
An increase in home-lending activity at BB&T Corp. was complimented by a surge in mortgage earnings. But one trouble spot for the financial institution lies in mortgage performance.
2 Mortgage Acquisitions as 2 Firms Raise Capital
A financial institution and an established mortgage banker have reached agreements to acquire a pair of residential lending firms, while two other companies are getting new capital.
Mortgage Business Expands at Lake Michigan CU
Home-lending activity was up by a fifth at Lake Michigan Credit Union's, as the size of its servicing portfolio rose, and its mortgage payroll grew larger.
Some Charges Dropped Against Frmr Thornburg Execs
Some of the charges in a government securities lawsuit against former top executives of bankrupt Thornburg Mortgage Inc. have been dropped.
114-Year-Old Bank Fails
An Arkansas bank has failed. Meanwhile, the failure of a much larger bank seven years ago proved to be very profitable for the acquirer.
Nationstar Unit Closing
A company created three years ago as a joint venture between Nationstar Mortgage LLC and a home builder is in the process of winding down.