Banking

Societe Generale is entering the U.S. commercial mortgage-backed securities market and has hired a team of more than 10 people from Royal Bank of Scotland Group for the effort.

Aiming to address a nationwide shortage of affordable housing, FHA has launched a risk-sharing pilot program that it hopes will encourage community development lenders to finance the rehabilitation of smaller multifamily apartments.

More than 300,000 South Floridians who lost their homes during the housing bust could be eligible to own again over the next eight years.

Hudson City Bancorp in Paramus, N.J., reported lower quarterly profitsas its loan book keeps shrinking.

Metro Bancorp in Harrisburg, Pa., which has been under pressure from activist investors to sell itself, reported higher quarterly income largely because of increased real estate lending.

Sun Bancorp in Mount Laurel, N.J., reported a quarterly loss as it continues to shrink its balance sheet.

Paramount Realty Services, a New Jersey commercial real estate firm, is the new owner of LMS Commercial Real Estate's properties and will now manage the real estate firm.

Apartments were the hottest commercial properties in the Greater Seattle area last year, with buyers collectively spending more on such assets than on the higher-profile office buildings.

Freedom Mortgage will hire 500 additional employees to accommodate an anticipated increase in Federal Housing Administration refinance and purchase transactions.

Earnings at Discover Financial Services plunged by 33% in the fourth quarter, largely due to a charge tied to the firm's mortgage business and a previously announced revision to its flagship credit card program.

Five Star Bank is the latest financial institution to settle claims that it avoided lending to minorities. More redlining cases can be expected, industry experts say.

Standard & Poor’s agreed to a one-year suspension from rating certain commercial mortgage bonds and $80 million in fines to settle charges with the Securities and Exchange Commission and the New York and Massachusetts Attorneys Generals offices.

Standard & Poor's will be suspended for a year from rating bonds in one of its most lucrative businesses in a $60 million settlement with the U.S. Securities and Exchange Commission.

PNC Financial in Pittsburgh recorded a quarterly loss in its residential mortgage division, as compliance costs outweighed interest income.

Apartment financing markets began the year on solid footing, according to a recent survey from the National Multifamily Housing Council.

Mortgage-focused real estate investment trusts, including those affiliated with Western Asset Management and Pine River Capital Management, are backing loans to Americans who don't meet banks' requirements.

Commercial mortgage-backed security performance could come under further strain this year, as the underwriting on the underlying commercial mortgages continues to loosen. Here are eight indicators to consider in sizing up the CMBS market this year.

Ares Management LP won a $700 million commitment to invest in U.S. commercial real estate for a life insurance client.

Lower litigation costs helped Bank of America's mortgage unit curb its losses, while Citi's fourth quarter origination volume dropped 18% from a year ago.

Lennar Corp., the biggest U.S. homebuilder by market value, said fiscal fourth-quarter earnings climbed about 50% as it sold more houses at higher prices.