Finance

Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of chartered banks, according to the Mortgage Bankers Association.

The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types.

Investors include New Orleans sports franchise owner Gayle Benson, placing the hotel under local ownership for the first time since it was built in 1976.

Lower interest rates increased Bank of America's first-quarter residential mortgage volume by 21% over the previous year, while home equity dropped by 25%.

Citigroup's first quarter mortgage-related revenue increased compared with the fourth quarter — although down slightly from the same period last year — as its lending operations continued to contract.

JPMorgan Chase's banner quarter didn't stop executives from warning that the pause in rate hikes could crimp profits, or from hinting that the bank might downsize its mammoth mortgage operation.

General Electric Co. finalized an agreement to pay $1.5 billion to settle a U.S. investigation into the manufacturer's defunct subprime mortgage business.

First-quarter mortgage banking results at Wells Fargo and JPMorgan Chase could be an early sign of an improving industry.

Non-qualified mortgage-backed securities record issuance in the first quarter puts it on pace to top full-year volume predictions, according to Keefe, Bruyette & Woods.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.

HomeStreet Bank could receive nearly $190 million in total for selling $14 billion in mortgage servicing rights to New Residential and PennyMac, and selling its home loan centers to Homebridge.

The commercial mortgage-backed securities delinquency rate increased for the first time since October lead by a 31-basis-point rise in late payments for loans secured by retail properties, Fitch Ratings said.

Controlling classes of investors in commercial mortgage-backed securitizations can replace a special servicer, but before they do, they should make sure the long and potentially expensive process is worth it.

The fate of U.S. office markets is intertwined with that of the biggest technology companies, Starwood Capital Group Chairman Barry Sternlicht said.

The Los Angeles bank will take a $1.4 million hit to earnings after the multifamily properties sold for less than their book value.

The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

While reinsurers are becoming more comfortable with the risk it is offloading, the GSE wants to maintain control of the workout process for loans that go bad.

The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.

Falling mortgage rates are giving a lift to homebuilders just in time for the key spring selling season.