Delta Financial Corp., Woodbury, N.Y., has reported a loss of $1.8 million ($0.11 per share) for the second quarter, compared with net income of $11.7 million ($0.58 per share) a year earlier.The company said the loss was due to a shift from gain-on-sale to portfolio accounting in the treatment of its securitizations. Hugh Miller, Delta's president and chief executive officer, noted that the company's loss narrowed from $0.35 per share in the first quarter to $0.11 per share in the second quarter. "We expect our quarterly loss to continue to narrow throughout the remainder of 2004, as we continue to build our loan portfolio, and ultimately report a profit by the first quarter of 2005." Loan production volume for the second quarter totaled $671.9 million, up 93% from that of the previous year.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27