Finance

The latest estimates for its market share in third-party origination channels as others have exited is 17% for correspondent and 2.2% in wholesale.

Even as First Republic Bank has sunk deeper into crisis this week — falling as much as 49% on one day alone — shares of many of its peers, including names like PacWest Bancorp and UMB Financial, have mostly held steady.

The company recorded its first quarter of production-related sequential revenue growth in roughly two years, which supplemented its income from the servicer and real estate business line.

The company also has plans to bring on board $37 billion in subservicing contracts in line with its acquisition of Rushmore Loan Management Services.

Researchers at the Federal Reserve Bank of Philadelphia have come up with a plan for letting banks innovate with artificial intelligence and widening access to credit at the same time.

The California bank, which endured large deposit outflows in March, anticipates selling its $2.7 billion lender finance portfolio in the coming months. It's also looking at cutting facilities, employee headcount and vendor costs.

Her statement calls out "a fundamental misunderstanding about the fees" following concerns expressed by two congressmen and others about their impacts.

Business owners or employees in this line of business can apply for a non-QM loan in 38 states that have legalized recreational or medical use of marijuana.

A couple small deals with some unusual regional concentration also are in the market and one broker says many billions of dollars more are in the pipeline.

The transaction is the second of its kind in the past six months and comes as the mortgage leaders take steps to develop document standardization that would ease electronic closings and trading of the home equity loans.

The San Francisco bank, on shaky ground after two regional peers failed last month, said that customers pulled more than 40% of their deposits last quarter. It's been forced to turn to more expensive sources of funding, which analysts said will squeeze its profitability.

Chief Financial Officer Terry Dolan mentioned the possibility when analysts asked about ways the bank might optimize its risk-weighted assets.

The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.

Executives at the Minneapolis bank responded to a research report that highlighted the decline in a key capital ratio after an acquisition last year. They don't plan to raise capital but aim to generate more of it from earnings in coming quarters.

The Phoenix bank provided behind-the-scenes details of the fallout from March's banking crisis, when it lost $8 billion of deposits in a single day. The company's share price closed up 24% on Wednesday after executives vowed to reassess its capital and liquidity strategy.

The move could reinforce measures undertaken by the current administration

Mortgage subservicing opportunities open up as transfers rise: BSI

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

Rate volatility stemming from the banking crisis temporarily disrupted trading, but a broad range of deals large and small have gone up for bid since then.

The asset manager on Tuesday is set to begin a monthslong process to help the Federal Deposit Insurance Corp. offload $114 billion of assets it picked up from Silicon Valley Bank and Signature Bank.