Solera National Bank, Lakewood, Colo., has announced a joint marketing agreement and strategic partnership with Countrywide Home Loans under which Countrywide will establish an office in each of Solera's branch locations. "Since we opened our doors late last year, we have had a significant number of ongoing requests from our customers for residential mortgage products and services," said Paul Ferguson, the bank's chief executive officer. "Our relationship with Countrywide Home Loans and their location in our bank lobby will allow Solera National Bank to deepen our relationship with our customers and prospective customers." Countrywide, which is based in Calabasas, Calif., is being acquired by Bank of America. Solera can be found on the Web at http://www.solerabank.com, and countrywide can be found at http://www.countrywide.com.
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The homebuilding giant reported two separate cyber incidents this year, with the most recent breach of its mortgage unit affecting more than 348,000 individuals.
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The move threatens IMBs and outside loan originators who rely on real estate agents for referrals, as the company aims to keep borrowers within its platform.
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Fed Chair Kevin Warsh's much anticipated speech at the Jackson Hole meeting reinforced past comments about reducing communications around forward guidance.
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The ex-CEO got a regulatory OK to officially rally shareholders for his plan, although he's still awaiting a federal judge's decision on a restraining order.
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The deal is backed by recently originated, 30-year fixed-rate mortgages with an average combined loan-to-value ratio of 75.1%, according to Morningstar DBRS.
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Academy Mortgage's deal will cover around 285,000 class members. It's the sixth deal this year by a mortgage firm seeking to squash consumer complaints.
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