Marketplace Home Lender Closing Down
A four-year-old marketplace home lender that was created to transform the manual mortgage process is closing down. Among the factors cited for the demise was regulation.
Stearns Lending Makes Acquisition
Just months after unloading its own correspondent lending platform, Stearns Lending LLC has made an acquisition that includes a correspondent business.
AMC Acquisitions, Partnerships and Expansions
In the valuation industry, an appraisal management company has been acquired, while several AMCs have partnered to create a bigger firm. Other AMCs have enhanced their offerings.
Stonegate Acquisition a Done Deal
After less than four years as an independent, publicly traded company, Stonegate Mortgage Corp. has, itself, been acquired.
123-Year-Old Bank Fails
A 123-year old financial institution that was able to weather the Great Depression was unable to survive the Great Recession.
Wells Fargo Ending Renovation Mortgages
Wells Fargo & Co.'s home lending unit will no longer offer renovation mortgage products due to the complexity and risk of the loans.
Staffing, Servicing Grow at Lake Michigan CU
Despite a drop in quarterly home-lending volume at Lake Michigan Credit Union, the size of the mortgage servicing portfolio and payroll expanded.
PHH Mortgage Production Drops, More Decline Ahead
Loan originations moved lower at PHH Mortgage and are likely down even more in the current quarter. The servicing portfolio was further reduced.
Investors Baffled Over OCC's Closure of WI Bank
Investors who were on the verge of pumping $100 million into a Wisconsin bank were baffled last week when a federal regulator shut down the bank.
Failed Wisconsin Bank to Cost FDIC Nearly $150 Mil
A financial institution in Wisconsin was the fifth federally insured bank failure this year -- costing the Deposit Insurance Fund nearly $150 million.