Origination

The financial institution will pay $350,000 in layoff expenses to leave a business beset by high rates and a crowded playing field relative to current demand.

Futurewave Finance was started by former FHLBank-Chicago executive Steve Thomas, as part of a personal mission to do more to help underprivileged communities.

"It's this tough market that's going to build the greatest leaders of our industry, which we will see come forward over the years to come," said the FHA's former commissioner.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

Washington Trust shares plunged after the Westerly, Rhode Island, company disclosed it booked an office deal in the third quarter, boosting the size of its portfolio while other lenders are pulling back.

First American Financial agreed to pay the New York Attorney General $4.5 million to resolve no-poaching agreement allegations; Old Republic, the first, paid just $1 million.

Even though it is less than two years since it allowed Fannie Mae and Freddie Mac to accept such valuations, it is difficult to evaluate their effectiveness without such examinations.

The company posted third-quarter profits of $194 million but gave no details about a potential split of its mortgage business.

The Hicksville, New York, company beat analysts' expectations on net interest income, but a pair of souring office loans contributed to a 68% increase in nonperforming loans from the prior quarter.

For the first time in about 15 months, more new listings came on the market in August on a year-over-year basis, Redfin said.