Flagstar Expands Retail Mortgage Biz W/Acquisition
An upcoming acquisition by Flagstar Bancorp Inc. will expand its retail lending business on the West Coast and boost its originations by nearly 10 percent.
Banc of California Completes Sale of Mortgage Unit
The planned sale of the residential lending unit owned by Banc of California Inc. has been signed, sealed and delivered.
US Earned $22 Billion from Bank Bailouts
The federal fund that was created to bail out the nation's banks during the financial crisis has earned nearly $22 billion for U.S. taxpayers.
Mortgage Expansion Planned for Bank Merger
A bank merger that was completed last summer was expected to enable the planned expansion of three business, including the residential lending business.
Mortgage Business Acquisitions Negotiated, Done
Recently announced mortgage-related mergers and acquisitions include a deal with alleged conflicts of interest. A new report highlights factors that will maximize value for sellers.
Few Mass Mortgage Layoffs
Despite a projected drop in home-lending activity this year, there have been few mass layoffs so far in the industry. Two bank mergers will result in job cuts.
Over 100 Layoffs at Banc of California
As the sale of Banc of California Inc.'s mortgage business approaches, the financial institution has disclosed plans to layoff more than a hundred employees.
Small Utah Bank Fails
A small bank in Utah has been shut down by regulators. The latest depository failure puts the nation on track to exceed the total for all of last year.
Buyer Found for PHH's Jacksonville PLS Unit
A buyer has emerged for PHH Mortgage Corp.'s private-label services operation that is located in Jacksonville, Florida.
PHH Mortgage Fundings Fall, Losses Balloon
Quarterly losses at the parent of PHH Mortgage soared past $200 million as home-lending volume fell. The company is transitioning into a smaller business.