Banking

Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.

Dark Matter CEO Rich Gagliano and CRO Sean Dugan join National Mortgage News to discuss how they're thinking about Empower pricing, new products and other key issues in mortgage technology in this livestreamed discussion.

Workers are eligible for the one-time cash grants if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000. The payments come amid a unionization push at the San Francisco-based megabank.

The Salt Lake City bank says that it doesn't expect major losses, even though its problem loans grew at the end of 2023.

The Dallas bank's full-year results showed progress toward its long-term strategic goals despite a fourth-quarter drop-off in net interest income heavily tied to its mortgage business, executives said on an earnings call.

To honor Stevens, who started in the secondary market where dry mortgage notes are sold to investors, let's delve into why the B3E proposal is badly constructed.

As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.

The Seattle bank's stock price fell in 2023 amid concerns over rising interest rates and its concentration of multifamily loans. The buyer is FirstSun Capital Bancorp, which raised $175 million as part of the deal.

The San Francisco-based bank warned for months that charge-offs were likely to start rising as some office-related loans went bad. It began to happen in the fourth quarter, which could be an omen for regional banks that have larger concentrations in the office sector.

Navy Federal, the nation's largest credit union, is facing a lawsuit about its allegedly discriminatory mortgage lending practices.

JPMorgan Chase closed out the most profitable year in U.S. banking history with its seventh consecutive quarter of record net interest income and a surprise forecast that the windfall may continue this year. 

The guidance also underscores consumer rights to obtain access to their own information as well as identities of sources providing data.

More clarity around values and an urgent need to address looming debt maturities are expected to spark more deals, a report from Jones Lang LaSalle said.

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

The company has linked tradeline information to lien data in ways designed to help mortgage portfolio managers keep pace with property values as they change.

Clark Street Capital said it developed a service to pair sellers with multiple potential buyers within just two weeks. It's meant to help small lenders close deals fast while still getting the benefits of a bidding process.

The top five banks and thrifts have nearly $96 billion in combined home equity loan portfolios as of September 30, 2023.

Southern Bancorp in Little Rock, Arkansas, plans to put $250 million in equity capital it received from the Treasury Department to good use making mortgages and acquiring banks.

Consumer delinquencies Vantagescore tracked during November generally were above pre-pandemic levels as shopping season began. Mortgages remained the exception.

The North Carolina-based company said it expects to close about 4% of its branch network, or roughly 80 offices, by the end of the first quarter. The closures come amid Truist's $750 million cost-cutting initiative.