Finance

Arch Capital Group's 62% first-quarter earnings improvement was driven by its acquisition of United Guaranty Corp.

Jesse Litvak was sentenced to two years in prison and fined $2 million after he was convicted a second time for lying about mortgage-backed securities prices.

Growth in commercial real estate loans is a big reason the New Jersey bank had a strong quarter.

From a few employees at Hutchinson Credit Union who spent part of their day focusing on better servicing of local home mortgages, Member Mortgage Services has grown in just 13 years into a separate company with 37 employees.

Growth outside of its residential mortgage business contributed to Flagstar Bank beating first-quarter earnings estimates, company executives said.

The West Virginia company sold the mortgages to Residential Funding and ResCap Liquidating Trust between 2003 and 2007.

Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing similar proposals related to this goal.

Caliber Home Loans' next nonprime mortgage securitization is nearly twice as large as its previous deal, completed in December.

Strong gains in low-cost health savings account balances helped fuel loan growth at the Waterbury, Conn., company.

The Atlanta company's profits rose on stronger net interest income and investment banking income as well as a tax maneuver.

The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio, and it said its "satisfactory" CRA rating had been restored.

Executives at BB&T, KeyCorp and Citizens are milking commercial lending niches and balancing cost control with new investments while waiting for more rate hikes to fatten margins.

Royal Bank of Canada is the latest Canadian firm to explore a sale of bonds backed by uninsured residential mortgages.

Citi has named David Chubak as head of global retail banking and mortgage for the global consumer bank, replacing Jonathan Larsen, who resigned late last year.

Stewart Information Services Corp. posted net income in the first quarter of $4.1 million, a turnaround from the $11.2 million loss one year ago.

MGIC Investment Corp. had net income of $89.8 million for the first quarter, an increase of nearly 30% over the same period last year of $69.2 million.

Earnings per share fell a nickel short of estimates due in part to lower-than-expected revenue from the origination and sale of mortgages.

Incenter Mortgage Advisors is accepting bids on behalf of an independent mortgage banker for a $326 million portfolio of Fannie Mae, Freddie Mac and Ginnie Mae mortgage servicing rights.

Texas Capital Bancshares sharply reduced the size of its loan-loss provision as credit quality improved in its energy loan book. That helped the Dallas bank post a 77% rise in first-quarter profit.

The Mississippi company's first-quarter earnings rose 60% from a year earlier. Its results from last year were weighed down by a settlement with regulators.