Allen L. Wehrhahn has been named president of Key Mortgage Services, Parsippany, N.J., a newly formed unit of Cleveland-based KeyBank's Consumer Finance group.Mr. Wehrhahn is a veteran of more than 20 years in the financial services industry, and was most recently president of Key Home Equity Services. The new unit includes the home equity services and prime lending groups, which will use a streamlined operations facility, as well as home improvement loans, Secolink Settlement Services, and the consumer loan center, which will continue to operate under their current structure, the bank said. KeyBank, a subsidiary of KeyCorp, can be found online at http://www.keybank.com.
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The government guarantor aims to distinguish delinquencies reported as a result of a Federal Housing Administration rule change from broader market trends.
April 24 -
The Long Island-based regional bank, which has been in turnaround mode for two years, reduced its earnings per share guidance for 2026 and 2027. It cited an expected decrease in net interest income due to higher levels of payoffs and paydowns in commercial real estate.
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Delinquencies also showed signs of overall improvement in March, despite an increase in foreclosure numbers, ICE Mortgage Technology said.
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But in its earnings release, parent company Hilltop Holdings warned its full year 2026 results are going to be impacted by things outside of its control.
April 24 -
U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.
April 24 -
The bank denied Black, Latino and Asian mortgage applicants roughly twice as frequently as white applicants in North Carolina, according to a study from the Americans for Financial Reform Education Fund.
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