Record BofA Pre-Tax Earnings as Home Lending Drops
Quarterly record pre-tax earnings were reported by Bank of America Corp. In the mortgage business, loan production tumbled on a linked-quarter and year-over-year basis.
Citi Mortgage Originations and Delinquency Up
Citigroup Inc. nudged up quarterly home lending. But the residential servicing portfolio continued its contraction, delinquency deteriorated, and mortgage earnings were weaker.
Chase's Mortgage Earnings Sink, Lending Edges Up
A modest quarter-over-quarter rise in single-family lending at JPMorgan Chase & Co. didn't translate into more profit for the segment. Mortgage holdings expanded, and delinquency improved.
Wells Earnings Climb as Mortgage Originations Drop
Quarterly earnings moved solidly higher at Wells Fargo & Co., though mortgage earnings and originations were down from a year ago. The servicing portfolio continued to be reduced.
Executive Leads Recovery from Wells Fargo Scandals
The executive who is guiding Wells Fargo & Co.'s community banking unit through a reputational recovery is confident in the firm's ability to right itself.
Flagstar Hires Former PrimeLending President
The former president of PrimeLending has been hired by Flagstar Bank to work in its retail production division. His career spans several major home lenders.
Interim CEO Starts Next Week at Fannie
The president and chief executive who has guided the Federal National Mortgage Association through $180 billion in profits is leaving next week.
Acquisition of PHH Corp. a Done Deal
The acquisition of PHH Corp., which has operated as an independent organization for more than a dozen years, has been completed.
Former Co-Owner of Troy & Nichols Dies
Local Baton Rouge, Louisiana, business leaders remembered the former co-owner of the Troy & Nichols mortgage firm, who died last week.
Ocwen Acquisition of PHH On Verge of Close
Ocwen Financial Corp. is on the verge of closing on its acquisition of ailing PHH Mortgage Corp. Regulatory approval of the transaction specifies the type of servicing platform Ocwen can use.