First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.

The hedge fund added a new small long position in the mortgage software company, according to a copy of its quarterly letter seen by Bloomberg.

The troubled lender could fail, get rescued by the nation's largest banks or muddle through as a zombie bank. Federal regulators and the big banks will have to decide which is the least bad option.

Trading of the company's securities was immediately suspended for failure to meet minimum shareholder equity levels, a move it agreed with.

Even as First Republic Bank has sunk deeper into crisis this week — falling as much as 49% on one day alone — shares of many of its peers, including names like PacWest Bancorp and UMB Financial, have mostly held steady.

The parties responded to the Federal Trade Commission's court filing that sought an injunction to halt their merger pending an internal adjudication.

As of April 19, the state program has distributed close to $100 million in mortgage and utility money to 19,123 applicants.

The California bank, which endured large deposit outflows in March, anticipates selling its $2.7 billion lender finance portfolio in the coming months. It's also looking at cutting facilities, employee headcount and vendor costs.

Tax lien forfeitures have unjustly taken from thousands of homeowners a combined $860 million in remaining proceeds from foreclosure sales, attorneys claim.

Business owners or employees in this line of business can apply for a non-QM loan in 38 states that have legalized recreational or medical use of marijuana.

An interagency statement warned that automated systems have the potential to perpetuate discrimination and that such systems should be developed and used "in a manner consistent with federal laws."

Home loan volume is slowing, heightening the need for effective outreach to new leads for lenders. Join industry mortgage marketing leaders for a discussion about best practices in the current landscape.

The top five lenders have a combined wholesale volume of more than $15 billion at the end of Q4 2022.

The top five lenders have a combined second lien volume of more than $97 billion at the end of Q4 2022.

The San Francisco bank, on shaky ground after two regional peers failed last month, said that customers pulled more than 40% of their deposits last quarter. It's been forced to turn to more expensive sources of funding, which analysts said will squeeze its profitability.

Only a few home lenders have moved to settle the legal claims, while many have denied wrongdoing.

Regional banks, including PNC Financial Services Group, KeyCorp, and Citizens Financial Group, were among those boosting lobbying expenses at the highest rates.

The moves include switching a $300 million servicing rights facility from failed depository Signature Bank to Flagstar Bank.

The top five lenders have a combined retail volume of more than $24 billion at the end of Q4 2022.

Other positions are being eliminated nationwide, with just 50 to 60 people remaining to manage the company's mortgage servicing rights.