Adjustable-rate lending specialist Golden West Financial, parent of World Savings Bank, earned $1.93 per share in the first quarter, up 16% from the same period a year earlier.Golden West chairman and CEO Herbert Sandler attributed the record $299.7 million in first quarter net earnings to the desirability of ARM products. Record lending volume of $9.4 billion in the first quarter exceeded loan payoffs, allowing Golden West to grow its portfolio by $4.8 billion, or 24%.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
