Richard C. Hartnack has been named head of the consumer banking division of U.S. Bancorp, Minneapolis, giving him responsibility for the full range of consumer lending, including home mortgages.U.S. Bancorp said the promotion was part of a move that aligned the company's business operating units under its president and chief operating officer, Richard K. Davis. Before joining U.S. Bancorp, Mr. Hartnack held various posts with Union Bank of California over 14 years, and his 34-year career in banking and financial services also includes stints with First Chicago Corp. and First Interstate Bank of Oregon, the company said. The bank holding company can be found online at http://www.usbank.com.
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The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
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The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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