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.
Executive Changes in Mortgage Boardrooms, C-Suites
During the past week, there have been boardroom changes at a mortgage servicer and government-sponsored enterprise. One firm appointed an interim chief financial officer.
Regulation Behind Dearth of New Bank Charters
Issues that are related to regulation have kept investors from using their capital to launch new banks over the last half-dozen years.
Mortgage Servicers Swing to Profit on MSR Gains
Earnings at independent servicers of residential loans swung to a profit in the final quarter of last year. Behind the improvement were gains on mortgage servicing rights.
Secondary Gains Hurt Mortgage Production Income
Earnings at independent mortgage banking firms plummeted more than 50 basis points on a quarter-over-quarter basis. Secondary marketing gains and expenses hurt income.
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.
Mortgage Executives Recruited
From the board room to the C suites, mortgage firms are making executive changes. In addition, two companies made management changes in their wholesale divisions.
Walter Slashes Servicing, Swings to Profit
Losses turned to profits during the last quarter of 2016 at Walter Investment Management Corp. The mortgage servicing portfolio significantly declined.