Banking

From working with homebuyers and seeing them through various milestones like raising a family, loan officer Dianne Crosby is in awe of the role she plays in helping clients reach their goals.

Late payments on securitized commercial mortgages ticked higher again in July, for the same reason they did in June: a number of large loans fail to pay off at maturity.

Benefiting from higher loan guarantee income and lower derivative losses, Freddie Mac said Tuesday it had made $993 million in the second quarter, a dramatic reversal from its $354 million loss a quarter earlier.

Guild Mortgage and FirstREX are lifting the curtain on a down payment investment program.

Carver Bancorp in New York is dealing with a new set of challenges just months after being released from a longstanding enforcement order. The company’s woes highlight the challenges for banks with narrowly constrained business models.

Impac Mortgage Holdings reported a year-over-year drop in net income during the second quarter as a more substantial loss on mortgage servicing rights and costs related to the CashCall Mortgage merger weighed on earnings.

By investing time early on with clients who may not be immediately ready for a mortgage, loan officer Becky Sandiland establishes relationships that generate future business.

First Community Mortgage, a subsidiary of First Community Bank in Murfreesboro, Tenn., has started a consumer direct lending operation working out of a new office in Cleveland.

Walter Investment Management Corp. subsidiary Ditech Financial plans to lay off more than 100 employees in North Carolina and Texas following declines in defaults across the country.

Suffolk Bancorp in New York, which recently agreed to sell to People's United Financial, discouraged several suitors from bidding due to concerns about concentrations of commercial real estate loans at those banks. The disclosures highlight the challenges that banks with heavy CRE exposure could face — as buyers or sellers — if they want to do deals.

Flagstar Bancorp reported a 2% uptick in net income during the second quarter from a year ago, thanks in part to higher commercial loan origination volume.

Republic First Bancorp in Philadelphia is getting into residential mortgages.

A drop in mortgage banking cut into Trustmark's second-quarter profit, as did the costs to extend buyouts to employees.

Despite fears that increased compliance costs from new Consumer Financial Protection Bureau rules could drive community lenders out of the mortgage business, a watchdog report found that smaller companies remain active.

Technology developed by SmartZip analyzes 2,000 variables about a housing market and its homeowners to help real estate agents and lenders identify consumers most likely to sell their house or need a new mortgage.

Multifamily family construction is reaching the point where some markets can't absorb the new supply of units.

Guaranteed Rate has begun offering 1% down payment mortgages through a new nationwide program.

Loan officers encounter a wide range of obstacles in the process of seeing a mortgage loan through to closing, but how many can spin silence into livestock?

A federal appeals court has reversed a lower court decision that dismissed a lawsuit against Freddie Mac brought by a state pension fund.

Synovus Financial in Columbus, Ga., reported higher second-quarter earnings on solid growth in revenue and loans for investment properties.