Lorain National Bank, Lorain, Ohio, has announced an agreement to acquire Mortgage One Banc, also of Lorain, for an undisclosed amount of cash.Mortgage One will retain its identity, and all mortgage employees of Lorain National will be retained and either reassigned to other areas of the bank or to Mortgage One, the bank said. Lorain National is the banking subsidiary of LNB Bancorp Inc., which can be found on the Web at http://www.4lnb.com.
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.
