Banking

Tewksbury FCU and CU Close have launched a new collaborative enterprise to help lenders and credit unions profit from combined volume and more efficient vendor management.

Mortgage applications were higher during the last week of January as interest rates fell to lows last seen in May 2013.

During last year's fourth quarter, commercial and multifamily loan originations increased by 11% from the same time a year before, a new report by the Mortgage Bankers Association says.

JPMorgan and Barclays plan to securitize 44 commercial mortgage loans that total $836.5 million. The loans are secured by 91 properties.

Arbor Commercial Mortgage has launched a proprietary online loan processing technology platform.

MetLife Inc. stepped up its investment in commercial real estate last year, the life insurer announced.

In yet another revision of its mortgage rules, the Consumer Financial Protection Bureau proposed making it easier for small and rural lenders to make "qualified mortgages." Industry representatives said the changes are poised to make a big difference.

The Consumer Financial Protection Bureau on Thursday proposed a series of regulatory relief measures for small institutions, especially those in rural areas, to help them provide credit while they try to follow the agency's tough mortgage rules.

New Jersey’s largest home-grown savings bank continued to shed loans and deposits in the fourth quarter as it continues to wait to be acquired by a commercial bank from upstate New York.

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.