FDIC Sues Frmr CEO, Directors of Failed $1 Bil Bank
A new lawsuit filed against Bank of the Commonwealth's former chief executive officer, chairman and board members seeks at least $11 million in damages.
Mortgage Firm With Several M&As Being Acquired
A mortgage company that has completed five mergers and acquisitions over the past seven years is now, itself, the target of an acquisition.
Merger Creating a New Top-20 Mortgage Lender
The upcoming merger of two independent lenders will create a mortgage banker that would have ranked among the 20-biggest originators last year.
New Penn Acquisition Builds Purchase Business
A bigger market share influenced New Penn Financial LLC's decision to make an acquisition of a mortgage firm with a network of referral sources for home purchases.
Portfolio Lender Formed From Acquisition
An acquisition by a Michigan financial institution provided a foundation for the creation of a portfolio lender that will invest in non-agency mortgages.
Agencies, Regulators Missed Taylor Bean Red Flags
A report from the Office of Inspector General Federal Housing Finance Agency found that the housing finance agencies and regulators missed opportunities to avoid losses from the Taylor, Bean & Whitaker Mortgage Corp. debacle.
BofA's Countrywide Losses Exceed $50 Billion
Bank of America Corp.'s 2008 acquisition of Countrywide Financial Corp. has cost it $50 billion, and the total continues to grow.
Failed Bank's Founder, Directors Agree to Settle
The founder of a Florida bank that failed four years ago and seven of its former directors have agreed to settle for more than $5 million allegations that they played a role in the bank's demise.
Ellie Mae to Acquire AllRegs
The mortgage industry's curator of lending guidelines is being acquired by the developer of widely used origination software.
FIRREA Saves Chase Again in Lawsuit
For the second time in the past month, JPMorgan Chase & Co. has prevailed in litigation because of provisions in the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.