West Coast Bancorp, Lake Oswego, Ore., has announced that it will record a $30 million pretax provision for credit losses in the fourth quarter, including $27.8 million related to expected losses in the company's two-step residential construction loan portfolio. The company said it expects to take a loss of $0.46-0.50 per share for the quarter. Under the two-step program, discontinued in October, the bank made initial construction financing loans to individuals, while the secondary, or "take-out," financing usually came from third parties. The company can be found on the Web at http://www.wcb.com.
-
The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
9h ago -
A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
11h ago -
An insurance-indexed debt-to-income ratio could help mitigate borrowers' rising premiums, and help maintain a healthy servicing portfolio, experts said.
April 22 -
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
April 22 -
Industry leaders expressed a high degree of satisfaction with technology in use, but also said a product's cost is the most important criteria for them when partnering with vendors, according to Fannie Mae research.
April 22 -
The top five loan officers produced an average of 628 loans in 2023.
April 22