Correspondent

John Kanas, BankUnited's CEO, said the business never turned a profit, and there were no indications that it would. The company, meanwhile, remains committed to other residential lending operations while focusing on expanding its other businesses across Florida.

Redwood Trust in Mill Valley, Calif., plans to stop buying mortgage loans to resell to Fannie Mae and Freddie Mac as it looks to cut costs.

Fourth-quarter mortgage banking income at Wells Fargo & Co. totaled $1.7 billion, up 10% from the $1.5 billion recorded in the fourth quarter of 2014, as the gain on originations and sales increased by $145 million year-over-year.

Ditech Financial, a subsidiary of Walter Investment Management, is exiting the distributed retail mortgage production channel.

National Cooperative Bank has formed a partnership to invest $40 million in an effort to provide loans for resident-owned manufactured home communities.

Funds managed by Blackstone's private equity group will acquire a majority stake in the corporate parent of Stearns Lending for an undisclosed amount.

Resitrader has introduced an online marketplace for the exchange of loan data, documents and pricing information.

Ditech Financial, a nonbank lender in Fort Washington, Pa., is the latest lender to bring back the piggyback mortgage by offering a closed-end home equity loan product.

SunTrust Banks in Atlanta has promoted an executive to oversee its consumer banking and wealth management operations

A number of investment banks have been increasing the portion of high-quality loans backing commercial mortgage bonds.