Banking

The near future may find more banks ceasing to originate residential mortgages in an effort to stop the slide in stock prices.

CU Companies on Monday said it finished 2015 with "significant growth" in its mortgage lending partnerships.

Loan originations for commercial and multifamily properties climbed in the fourth quarter compared to last year, the Mortgage Bankers Association said.

The final deadline for all Top Producers Survey responses is here. All entries must be submitted online by 6 p.m. EST Monday, Feb. 1.

Fourth-quarter profit improved at Investors Bancorp, as the Short Hills, N.J., company originated more multifamily, business and commercial real estate loans

TFS Financial in Cleveland reported a higher fourth-quarter profit, citing a $1 million negative loan-loss provision.

The Department of Housing and Urban Development is reducing the mortgage insurance premiums it charges on Federal Housing Administration multifamily loans to encourage the renovation of affordable housing units and promote energy-efficient upgrades.

Umpqua Holdings in Portland, Ore., posted stronger quarterly earnings because of an increase in mortgage banking fees and lower costs.

John Kanas, BankUnited's CEO, said the business never turned a profit, and there were no indications that it would. The company, meanwhile, remains committed to other residential lending operations while focusing on expanding its other businesses across Florida.

Credit unions' share of the mortgage origination market has climbed steadily since the financial crisis. The sector expects to build on that momentum in 2016, even as significant headwinds loom.

Barclays Plc is exiting residential mortgage and commercial mortgage backed securities trading and asset-backed derivative in the U.S., according to a memo seen by Bloomberg. Operations will be focused on origination-led ABS and primary CMBS.

Bank of America's mortgage banking income was down 26% from a year ago due to a decrease in core loan production revenue and higher intercompany charges during the fourth quarter.

Interstate Hotels & Resorts in Arlington, Va., has formed a partnership with Hospitality Funding to provide financing for hotel development projects.

Synovus Financial in Columbus, Ga., reported a higher fourth-quarter profit on stronger interest and fee income.

Fourth-quarter mortgage banking income at Wells Fargo & Co. totaled $1.7 billion, up 10% from the $1.5 billion recorded in the fourth quarter of 2014, as the gain on originations and sales increased by $145 million year-over-year.

Life insurance companies posted a higher return on their private commercial mortgage investments in the third quarter of 2015, compared to the second quarter, according to LifeComps.

The availability of debt and equity financing declined during the most recent quarter, according to the National Multifamily Housing Council.

PNC Financial Services Group reported lower fourth-quarter profits on a decline in fees related to residential mortgages and deposit accounts.

Loan officers from the Top Producers rankings share some of their best career anecdotes and advice behind their success in the mortgage industry.

JPMorgan Chase reported a 21% drop in year-over-year earnings for its mortgage business as revenue dropped 10%.