Financial institutions

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.

From the largest banks to the smallest independents, policymakers want to hear the mortgage industry speak with one voice in the critical efforts to reform the government-sponsored enterprises.

Seeking to stay below $50 billion, the regional is selling its origination and servicing businesses.

Managing portfolios for an influx of servicing rights investors helps mortgage companies augment revenue and keep rising costs and compliance risks in check.

Senate Banking Committee Chairman Mike Crapo sounded optimistic Thursday about reaching a bipartisan deal for regulatory relief, but a hearing once again emphasized the gulf between what lawmakers are likely to pass and what the industry is seeking.

New entrants in mortgage servicing are rethinking how business is done, creating more division between holders of mortgage servicing rights and the entities that actually manage loans.

A report quietly released by the Treasury Department says there is “clear evidence” that a program President Trump wants to cut helps recipients provide financial services to the most underserved communities.

Employment in the mortgage sector increased for the second consecutive month in April as the spring home purchase season began.

Maine's residential mortgage lending industry bears little resemblance to its prerecession version as changing conditions have shuffled the deck of top lenders and created new choices for borrowers.

Employment in the mortgage sector rose for the first time in three months in March, driven by an increase in loan broker hires.

Despite an effort by the Trump administration to defund government aid for community development financial institutions, the Senate approved a budget deal that included $258 million in funding for the CDFI fund.

The onslaught of regulatory actions against Ocwen may open the door for Nationstar to pick up a massive subservicing portfolio from the beleaguered servicer.

Congressional action to reform housing finance is ultimately needed, but we must confront the risk of continued drift and inaction if Congress is unable to act.

The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio, and it said its "satisfactory" CRA rating had been restored.