Secondary

The company also has been upgrading technology to manage its large servicing portfolio, which, with pending additions, is within reach of Chairman and CEO Jay Bray's $1 trillion goal.

Federal Deposit Insurance Corp. sales from the portfolios of failed Silicon Valley Bank and Signature could be complete by September, according to a report published Tuesday by FHN Financial.

Compared with other tax lien transactions, PVOne 2023-1 has a much smaller initial redemption value, and has one of the lowest numbers of liens, at 9,681. Its weighted average loan-to-value (LTV) ratio is 8.8%.

The acquiring company netted an incremental gain in shareholder buy-in with its previous postponement but not enough to push the transaction forward.

It's a toss-up between a recession or a soft landing, though some, including Fannie Mae's Doug Duncan, still believe a downturn is more likely than not.

The Columbus, Georgia, bank is selling a $1.3 billion portfolio as part of a plan to pay off higher-cost funding. Though there are rising concerns about the office sector, Synovus said the loans it's offloading have pristine credit quality.

MSRs already get very punitive treatment relative to other assets and regulatory reform following the banking crisis could increase it, according to some analysts.

The recent conversion marked one of the final steps in the $8 billion acquisition, first announced in 2021. U.S. Bank still anticipates up to $900 million in cost savings and a breadth of opportunities to expand revenue from the transaction.

Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.

The Wall Street giant has more than $14 billion of real estate investments, and it took a $1.15 billion hit during the second quarter from writedowns of those bets.