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.
PNC Agrees to Settle 2nd Mortgage Class Action
The PNC Financial Services Group Inc. has agreed to settle a class-action lawsuit alleging excessive fees and illegal kickbacks on second mortgages.
Appraisal Integrations and Acquisitions
Appraisal service providers have been enhancing their offerings through integrations, though at least two have turned to acquisitions to improve options for their lender clients.
Massive Taylor Bean Lawsuit Settled
A $5.5 billion lawsuit filed by the trustee for bankrupt Taylor Bean and Whitaker Mortgage Corp. against an auditor has been settled.
Florida Mortgage Banker Dies
A Florida mortgage banking executive who previously sold his mortgage company to Warren Buffett's Berkshire Hathaway Inc. has died of heart failure.
4th Bank Failure of 2016
For the fourth time this year, a federally insured bank has failed. This time it was a financial institution out of the South.
FDIC Settlement Nets Chase Over $600 Million
A settlement reached between JPMorgan Chase & Co.'s banking unit and the Federal Deposit Insurance Corp. will cover more than $600 million in litigation costs paid by the bank.
Mortgage M&As Move Forward
A home lender that focuses on the Hispanic market recently received an equity injection. Two other mortgage businesses were acquired, while another is part of a bank acquisition.
Mortgage Servicer Defrauds Ginnie
The president of a servicer has been charged with stealing nearly $3 million from loans included in mortgage-backed securities guaranteed by the Government National Mortgage Association.