Secondary

Increased dealings in direct consumer lending and guaranteed student loans offset a decline in mortgage-related income. A lower loan-loss provision also helped the bottom line.

The California lender, which specializes in trade finance, reported strong growth in commercial and other lending categories last quarter, and it urged the Trump administration to seek fair trade deals with China.

The discounts that Fannie Mae and Freddie Mac used to offer large originators for selling them bulk bundles of mortgages continue to haunt small lenders, who worry a new housing finance system could revive the practice.

The Pittsburgh company, pleased with employee and client retention from its March purchase of Yadkin Financial, is looking to hire lenders from other institutions.

Fannie Mae is increasing the maximum debt-to-income ratio it will allow on purchased loans to 50% from 45% on single-family loans when it rolls out its latest version of Desktop Underwriter on July 29.

Ocwen Financial Corp. agreed to settle a shareholder lawsuit for a cash payment of $49 million, plus 2.5 million shares of the company's stock.

MGIC Investment Corp. reported second-quarter net income of $118.6 million, an improvement from the $109.2 million for the same period last year.

The regional bank reported an 8% gain in fee income and trimmed costs amid 1% loan growth.

Former Ginnie Mae President Ted Tozer is joining the board of directors at PennyMac Financial Services starting Aug. 1.

Colony American Finance has been rebranded as Corvest American Lender in the wake of equity and asset acquisitions by funds affiliated with Fortress Investment Group.