Andy Peters

All Andy Peters' Stories
And that was only the beginning. Bank CEOs speaking in New York provided a long list of financial reforms that they would like to see under the incoming Trump administration.
Some banks are set to get a fourth-quarter earnings boost from their MSR portfolios, thanks to a sudden spike in yields on Treasury bonds. Add to that the prospect of further rate hikes and the potential dismantling of Basel III, and more banks could be encouraged to re-enter the servicing business.
Ally Financial has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage-backed securities in 2006 and 2007.
Banks already have a difficult time collecting data on mortgage lending to minorities. New data requirements scheduled to take effect in early 2018 could lead to even more mistakes and financial penalties not to mention higher compliance costs and longer delays in closing loans.
Banks have been waiting on Justice Department guidelines on how to make their websites compliant with the Americans with Disabilities Act, but many are being advised to take action now or face lawsuits from disabled customers.
Regulators have pressed banks to watch out for rising concentrations of commercial real estate loans. Some banks have paid heed, but others are skyrocketing past recommended thresholds.
Flagstar Bancorp's quarterly profit increased after a decline in the value of a 2012 legal settlement liability tied to its mortgage lending practices.
Profit fell at SunTrust Banks during the third quarter because of higher costs for technology and deposit insurance premiums, as well as an unfavorable yearly comparison.
Greg Carmichael, who has been on the job nearly a year as Fifth Third's CEO, has started putting his stamp on the company by aggressively trimming branches in favor of mobile, seeking to build up its consumer credit business and retooling the balance sheet.
Profit improved at M&T Bank in the third quarter as the Buffalo, N.Y., company expanded commercial and mortgage lending and completed the sale of a large investment-securities portfolio.
Regions Financial reported a higher third-quarter profit, citing improved fee income from mortgage lending, capital markets and credit and debit cards.
Banks are dumping their mortgage servicing rights because low rates and new rules make it hard to earn a profit. SunTrust, Flagstar and First South Bancorp in North Carolina are taking the opposite view.
SlideshowsSee All »