Banking

Clients of commercial real estate crowdfunding platform Selequity can now get short-term financing from CRE lender Virtual Realty Enterprises.

Wellington Denahan is stepping down as chief executive officer of Annaly Capital Management Inc., the largest real estate investment trust that buys mortgage debt.

Synovus Financial in Columbus, Ga., reported higher second-quarter income tied to a lower loan-loss provision.

Angel Oak Home Loans in Atlanta has opened multiple branches across the state of Florida as part of its nationwide expansion.

United Wholesale Mortgage has begun offering interest-only mortgages through its third party origination channels.

Community Housing Capital in Decatur, Ga., has received a $100 million line of credit dedicated for the development and preservation of affordable housing from a syndicate organized by Morgan Stanley.

Loan officer Eric Rotner's first boss made him understand the entire origination process, which has given him an edge against his competition.

So-called shadow lenders have been making an increasing number of leveraged loans to midsize businesses. Now their involvement is growing in commercial real estate, a market that scorched traditional lenders when it blew up after the 2008 financial crisis.

Umpqua Holdings in Portland, Ore., reported higher second-quarter profit, citing lower merger costs and growth in residential real estate lending and equipment finance.

Webster Financial in Waterbury, Conn., reported second-quarter profit of $50.5 million, a 12% jump from a year ago, as mortgage banking revenue improved.

Wintrust Financial in Rosemont, Ill. reported higher second-quarter profit due to loan portfolio growth and higher mortgage banking revenues.

The Cleveland company, which this spring said it had decided to start originating its own mortgage loans again, shared more details on the start date of this new effort and the rationale behind it.

Citigroup's combined gain-on-sale and mortgage servicing revenue increased by 34% in the second quarter over the same period last year.

M&T Bank reported a higher quarterly profit that reflected increased fees and higher net interest income.

Bank of America Corp., the lender most hobbled by the collapse of the housing market, said second-quarter profit more than doubled as the mortgage business rebounded and expenses fell to the lowest since 2008.

purchase lending, loan production, Wells Fargo, home lender

The House passed a bill Tuesday that could ease the regulatory burden on community and regional banks with mortgage servicing businesses.

Wells Fargo said second-quarter net income was little changed as rising rates have eroded Wells Fargo's dominance in the mortgage market.

Struggling to win business in the age of QM, Impac Mortgage has relaxed underwriting requirements in hopes of attracting borrowers many other lenders won't touch.

Commercial real estate lending and mortgages are banks' main source of hope to beat lukewarm expectations for the earnings season that begins Tuesday.