Banks in South, Northwest Fail
A tiny bank in the Northwest, as well as a mid-sized financial institution that was located in the South, failed last week.
2015 Credit Union Failures Exceed Bank Failures
For the first time in eight years, more federally insured credit unions have been liquidated or placed into conservatorship than federally insured banks.
Bank-Mortgage Mergers Continue
Following a recent spate of mergers between banks and mortgage firms, two more such deals are in the works. Several other mortgage mergers and acquisitions have also closed.
Mortgage Entrepreneur Acquires Bank
The owner of a growing mortgage banking firm has also become a controlling stockholder of a federally regulated financial institution.
Guaranteed Rate Sued by Former Executive
A federal lawsuit filed by a former executive of Guaranteed Rate Inc. will move forward, though three of four counts have been dismissed.
Outlook Improves for Mortgage Insurers
As mortgage market conditions have brightened and underwriting has strengthened, the outlook for the mortgage insurance industry has improved.
Walter Consolidates Business Units
Walter Investment Management Corp. said that it has completed the consolidation of its loan origination and mortgage servicing businesses.
Owner of Former VA Mortgage Lending Giant Sued
The owner of a closed mortgage firm has been added to a federal whistleblower lawsuit accusing the company of overcharging veterans and defrauding the government.
Busy Pace of Mortgage M&As Continues
Along with a host of larger mortgage mergers and acquisitions that have been recently announced, several smaller deals have closed.
Mortgage Player Just Got More Significant
An investment fund that recently became a player in the world of mortgage banking has just made a huge acquisition that will boost its wholesale presence.