Genworth Financial, Richmond, Va., now has a definitive agreement to purchase InterBank FSB, Maple Grove, Minn. The transaction was first announced on Nov. 16. Among the conditions for the transaction continues to be the approval of Genworth to participate in the Troubled Asset Relief Program. InterBank is a subsidiary of Aurora Services Corp. Aurora was represented by Sandler O'Neill & Partners LP and the law firm of Patton Boggs LLP. Terms of the deal were not disclosed.
The lender said it closed its Eleven Mortgage brand and its correspondent business to focus on retail, and did not elaborate on potential layoffs.
Gold Star Mortgage hasn't said whether it suffered a data breach after cybercriminals claim to have compromised over 10,000 documents from the lender.
The guidance reflects a mortgage servicing rights market that has broadly included the customer value in refinancing for over a decade, experts say.
With little action towards privatization this year, the timeline in 2027 is also narrowing as the focus shifts to the 2028 election, Bose George said.
The White House's top economist says inflation is already at the Fed's 2% target and suggested that further rate hikes could jeopardize growth.
Self-employed borrowers account for 40.9% of the pool, but they are high earners and the pool has moderate leverage.
