Corporate finance

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

The lenders also are receiving warrants to purchase New Residential stock.

The Mortgage Bankers Association's forecast anticipates tremendous coronavirus stimulus-related debt coming on to the market.

Incoming chief Frank Bisignano downplays any pressure to find $1.2 billion in cost cuts promised to shareholders from the acquisition of First Data. Instead he emphasized his track record of producing revenue growth and pledged to keep funding innovation projects.

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.

Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.

The title insurer did not disclose the number of layoffs.

After ending 2019 on a high note, Ocwen Financial posted an income loss in the first quarter due to the unexpected costs and volatility created by COVID-19.

Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.

Bisignano, who engineered a technology-driven recovery at First Data before it was acquired by Fiserv last year, will take Fiserv's top job as the company forges its coronavirus strategy.

But it is still looking to conserve capital to cover future delinquencies and will likely halt dividends to the parent company.

But Black Knight and Arch Capital's mortgage insurance business aren't as affected, at least so far.

Jay Bray speaks about the company's experience in working with distressed borrowers going back to the Great Recession.

Fannie Mae's profitability suffered but it managed to stabilize the mortgage market in the first quarter even with the coronavirus disrupting, among other things, certain credit-risk transfer vehicles it has used.

Net income grew by nearly 1,990% year-over-year as its core mortgage services businesses gained scale.

While Freddie Mac stabilized liquidity in mortgage markets, coronavirus-related credit losses drove the GSE's income down in the first quarter of 2020.

The first-quarter loss ended a two-quarter profitability streak the company hoped to maintain.

The broker/wholesale business was by far the smallest origination segment for the company.

Refinancing drove a 75% year-over-year increase in mortgage banking revenue during the first quarter at Flagstar Bancorp as it shored up its operations to avoid other negative repercussions from the coronavirus.

Low mortgage rates increased new orders, but fallout from the pandemic hurt investment income.