Finance

Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.

Third-quarter net income at mortgage technology provider Ellie Mae was higher year-over-year but came in below the previous quarter's number as the company worked to produce gains despite falling originations.

Barclays and the Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, according to people with knowledge of the situation.

CoreLogic's net income dropped to $31 million in the third quarter from $36 million a year ago due to a settlement and an estimated 25% decline in origination units.

The deal, known as Bayview Opportunity Master Fund IVb Trust 2017-RT6, pools 2,745 current loans, of which nearly 58% have been clean for at least two years, and 55.2% have been modified.

Radian Group reported third-quarter net income of $65 million after taking $57.8 million in pretax charges — $12 million of which is related to the Clayton Holdings restructuring.

BOK Financial benefited from rising interest rates in the third quarter even as it reported declines in fee income and commercial real estate loan balances.

The Michigan company's third-quarter results were down slightly from a year earlier despite increased commercial lending and a wider net interest margin.

The second liens, which accompany CMBS first mortgages, range in size from $500,000 to $5 million, a segment of the market that is not well served by either banks or debt funds.

Net income at the Livingston, N.J., company climbed 67% due to a variety of one-time items tied to its ongoing restructuring.

Fannie Mae is staging more pilot projects with lenders and vendors, including one that consolidates submissions of different types of loan data potentially eligible for immediate representation and warranty relief.

Hawaii's booming economy contributed to the Honolulu bank's 10% increase in loans and 9% increase in deposits in the third quarter.

Fannie Mae is authorizing additional suppliers of reports that can give lenders immediate representation and warranty relief on certain data, diversifying beyond an exclusive partnership with Equifax in one category.

SunTrust’s yields have improved as it has increased its credit-card and student lending and made more online personal loans through its LightStream subsidiary.

The $36.3 billion-asset bank reported double-digit growth in C&I loans, commercial real estate loans and specialty loans to the private-equity, entertainment and energy industries in the third quarter.

Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,

Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small.

Called Structured Agency Credit Risk Securitized Participation Interests, the new securities are backed by mortgage loans, and are not general obligations of the government-sponsored enterprise.

Jeff Tennyson is out as president of Radian Group's Clayton Holdings real estate services business as the holding company provided further details about its restructuring plan.

Many of the prime jumbo loans backing the transaction, JP Morgan 2017-4, were contributed by originators with limited history in that product, according to DBRS.