Financial institutions

The Houston company doesn't expect any material impact on its commercial-and-industrial book, though there is potential risk tied to residential mortgages. Management, meanwhile, has started rolling out programs to help customers recover.

Their immediate effort is to ensure colleagues and clients are safe and that banking services are available to hurricane victims. The next big issue is preparing for the financial hit banks and customers will take from wind and water damage.

Rep. Maxine Waters, D-Calif., is calling on the FDIC to hold a public hearing on SoFi's application for deposit insurance.

It is the largest equity investment that Clearinghouse CDFI has received in its two-decade history.

The nonbank lender and servicer's long-awaited rebrand comes along with wholesale changes across its entire operation to better emphasize the customer experience.

Walter Investment Management Corp. is in danger of having its stock delisted from the New York Stock Exchange as its average market capitalization remains below required minimums.

Duke, currently vice chairman, was rumored to be a likely contender for the chairman spot last week.

Critics of recent False Claims Act enforcement argue the Justice Department is too heavy-handed toward lenders and servicers. But in an industry reputed for shoddy processes during the crisis, perhaps stringent oversight is warranted.

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.

The year opened with hopes that regulatory and enforcement pressures would abate for the mortgage industry. The reality has turned out quite differently.

The nonbank mortgage sector had its largest one-month employment gain in a year, as independent mortgage bankers and brokers enjoyed stronger-than-expected originations during the second quarter.

Banks pay their loan officers less than independent mortgage bankers do, but the level of sales support provided negates the difference, a study from Stratmor Group said.

Valley National's latest acquisition would make it a much bigger player in Florida and provide a platform to write more auto loans. Both markets present attractive returns but high risks.

Increased dealings in direct consumer lending and guaranteed student loans offset a decline in mortgage-related income. A lower loan-loss provision also helped the bottom line.

The Pittsburgh company, pleased with employee and client retention from its March purchase of Yadkin Financial, is looking to hire lenders from other institutions.

Former Ginnie Mae President Ted Tozer is joining the board of directors at PennyMac Financial Services starting Aug. 1.

The Georgia company made more loans and controlled costs. As a result, it had a 1% return on assets and an efficiency ratio below 60%.

Expenses also rose, as well as the provision for loan losses, but credit quality remained spotless at the lender to the wealthy.

It's not only regulation that is hurting profitability, but also banks' failure to adapt to the internet age, according to a recent study.

Employment among nonbank lenders and mortgage brokers grew in May, marking the third straight month of employment gains at a time when housing inventory is tight, refinancing has slowed and home prices are rising.