Secondary

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.

U.S. District Judge André Birotte has dismissed all federal claims against Renovate America and its government bond-issuing partners in three lawsuits that had sought class-action status.

The Buffalo, N.Y., bank also said commercial and consumer lending ticked up, while residential real estate fell during the second quarter.

The Illinois company has bought two banks and a small mortgage firm in the past year, which helped improve its second-quarter results.

Declines in commercial products and mortgage banking fees at the Minneapolis company offset some of the benefits of higher interest rates.

The credit characteristics of the collateral are broadly similar to the sponsor's inaugural deal, completed in February, but the capital structure has been tweaked.

The Pennsylvania bank's mortgage performance contributed to stronger loan growth, fee income and profits.

Last month's spike in defaults due to loans maturing drove the greatest month-over-month surge of U.S. commercial mortgage-backed securities delinquencies in six years, according to Fitch Ratings.