Banking

Consumer default rates are up month-to-month, which may reflect a gap between spending and income that is stressing second mortgages and bank cards, Standard & Poor's and Experian find.

The Michigan company, which lost more than $1.4 billion in the aftermath of the financial crisis, is trying to become more of a commercial lender. Its recent agreement to buy a deposit-rich franchise in California could help it get there.

The agency's Quarterly Banking Profile said banks earned $47.9 billion in the third quarter, helped by a 7.4% increase in net interest income from the previous year.

Blue Lion Capital believes a heavy focus on mortgages and acquisitions is hurting HomeStreet's financial performance.

Carver Bancorp, which has spent 70 years serving minorities in Harlem and surrounding neighborhoods, is struggling to turn a profit. As black-run banks nationwide struggle to stay afloat, Carver's CEO insists the institution is on the right track.

Built Technologies successfully completed a capital raise, enabling the three-year company to expand its software offerings for both commercial and residential construction lenders.

Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.

The three major hurricanes that caused so much devastation during August and September was largely responsible for the third-quarter increase in mortgage delinquencies.

Over half of mortgage industry executives anticipate first-time home buyer growth in 2018, estimating that market will grow at a faster pace than the overall housing market, according to Genworth Financial.

The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.