Banking

The Mortgage Partnership Finance Direct program will now accept larger jumbo mortgages and a wider variety of products including hybrid adjustable rate mortgages, the Federal Home Loan Bank of Chicago and Redwood Trust said Monday.The partners said that the program would accept jumbos of up to $2. 5 million, a boost from the previous $1.5 million limit.

Mortgage originations typically surge in a low-rate environment. Second-quarter reports should show an uptick in fees from selling those loans, but what will bankers say about the rest of this year?

Bank of America saw its mortgage banking income fall to $312 million in the second quarter from over $1 billion one year prior as it continues to keep more loans on its balance sheet instead of selling them in the secondary market.

Carmen Inclan of Raymond James Bank recognizes customers are happiest, and business booms, when communication is prioritized.

Alterra Home Loans in Las Vegas has secured an expansion capital and equity investment commitment from private equity partnership Panorama Point Partners.

JPMorgan Chase reported a 5% increase year-over-year in its second-quarter mortgage banking revenue even though its loan origination volume fell by 15%.

In a move to reduce the strain on its small staff and improve service, a credit union in Wyoming now lets its members pay their mortgages and other loans simply by sending a text message.

Now that privately insured credit unions finally can join the Federal Home Loan Bank System, will more federally insured state charters consider converting to private insurance?

Walter Investment Management Corp. subsidiary Ditech Financial has relaunched a wholesale lending channel.

While many depositories do just enough mortgage lending to low- to moderate-income borrowers to meet statutory requirements, The Federal Savings Bank has made it a backbone for growth.

The management team at Bank of the Ozarks knows it has a dependency on commercial real estate. But they assert that sound underwriting, and efforts to diversify, are what really matters when assessing risk.

Fifth Third Bancorp has named Edward Robinson senior vice president and head of Fifth Third Mortgage.

A noted upper midtown Manhattan retail center that sold last month for $525 million is among several high-end retail, shopping and hotel resort properties JPMorgan is including in its latest commercial mortgage securitization.

Total multifamily and commercial mortgage originations are expected to decrease from last year's levels because of economic uncertainty, according to the Mortgage Bankers Association.

Fifth Third Mortgage has introduced a new down-payment assistance program in conjunction with Freddie Mac's Home Possible Advantage 3% down loan.

A previous career in the restaurant industry sparked an idea that helped Chong Yi nearly double his production dollar volume.

Cornerstone Real Estate Advisers, an asset manager owned by Massachusetts Mutual Life Insurance, agreed to buy ACRE Capital Holdings in a bet on multifamily loans.

The Connecticut Housing Finance Authority intends to offer up to $63 million in fixed-rate bonds on Tuesday and $23 million as variable rate on July 13.

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to buy First Choice Bank in Lawrenceville, N.J.