The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.

The Chicago company said its decision was largely based on intense competition, very low margins and economic changes.

Investors are growing worried about lackluster loan growth this year at community banks.

Mortgage lenders are growing more pessimistic about their profitability, with the highest percentage ever seen in Fannie Mae's first-quarter industry sentiment survey expecting a decline in margins.

Crossroads Systems Inc. has relaunched with the acquisition of a community development financial institution focused on the Hispanic mortgage market.

The Federal Agricultural Mortgage Corp. reported significant gains in new business volume, but also realized a big jump in 90-day delinquencies.

The servicing business drove Nationstar Mortgage Holdings' fourth-quarter profitability and will be a major factor going forward after the company is acquired by WMIH.

Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.

A $2.38 million loan Remax founder and former CEO David Liniger provided to the company's then-chief operating officer, Adam Contos, violated the company's code of ethics because its board of directors was never told about it, the company said as it announced it had completed an internal investigation.

The House Financial Services Committee chairman is calling out Fannie Mae and Freddie Mac's regulator for authorizing payments to two housing trust funds while the mortgage giants have their own financial struggles.