Digital Mortgage Direct Page

The number of people exiting pandemic-related payment suspensions starting in September will be daunting to process, according to a Black Knight report published Monday.

The bank saw a modest increase in net income from the first quarter, as lawsuit settlements tied to the company’s discontinued home lending business and fees regarding an anti-money laundering and securities class action suit continue to limit growth.

This is the third major executive hire at the company amid an industry-wide push to attract more minorities to its ranks.

Offered through the company’s 11 chartered units in 12 states, the five-year fixed-rate installment loan is secured by the home and is available between $5,001 and $14,999.

The industry had tightened up last year in the face of COVID-19. But as the economic outlook improves, banks are now easing criteria amid heightened competition, according to the Federal Reserve’s survey of loan officers.

James Mirfin is global head of digital identity and fraud solutions at Refinitiv.

In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.

While the numbers were higher than they were a year earlier, the decline comes at a time of year that usually produces some of the best returns for sellers.

The timing of major upcoming shifts in Treasury supply and demand will be crucial in determining if the recent downward trend in yields continues or finally reverses.

Dan Johnson is an assistant professor for the College for Financial Planning and a part-time instructor for Kaplan Professional and Boston University. He resides in Chicago, IL.