Even though some mega banks have been exiting the wholesale arena en masse, BankTennessee of Collierville is jumping in.The bank recently hired industry veterans Jim House and Hugh Edwards to lead the effort. Mr. House was wholesale division manager for RMC Funding and also worked at National Bank of Commerce, which eventually became SunTrust Bank. Mr. Edwards also worked at RMC. A spokeswoman for BT said that the effort is still young and that so far the depository only has two "approved" brokers.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
September 25 -
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
September 25 -
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
September 25 -
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
September 25 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
September 25 -
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
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