Andy Peters writes about regional banks, consumer finance and debt collections for American Banker. He also co-writes the Morning Scan column. He has previously written for Bloomberg and for the Daily Report, a legal newspaper in Atlanta. He got his start in journalism as an editorial intern for The New York Times.
Citizens Bank's $511 million acquisition of Franklin American Mortgage will beef up the bank's servicing portfolio and diversify its origination business at a time when higher interest rates have put a damper on refinance volume.
The removal of costly appraisal requirements on tens of thousands of smaller commercial properties could help community banks better compete for loans they say they have been losing to nonbank lenders.