The San Francisco-based bank — which regulators seized and sold to JPMorgan Chase early this month — was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse.

The unit was looking to remain as a team, but reportedly the buyer was only interested in the sales staff.

The transaction helps cement WFG's place in the Bay Area market, something it has targeted since its 2010 founding, Chairman Patrick Stone said.

Guild Mortgage and Axia Home Loans shared their perspectives on how to ensure the health and prosperity of smaller shops at the MBA Secondary & Capital Markets Conference this week.

The regional bank made the deal as part of an effort to bolster liquidity following turmoil among its peers.

Only an act of Congress can allow the lenders to become members, two bank presidents emphasized.

JPMorgan bought First Republic Bank earlier this month after it became the second-largest bank failure in U.S. history and the fourth regional-bank collapse this year.

The bank said it agreed to sell a $2.6 billion portfolio of 74 real estate construction loans as part of its plan to shore up liquidity.

The company's recent expansion into commercial servicing is part of a broader effort to build a diversified business model, according to President and CEO Mike Dubeck.

Also, Polly appoints two new chief officers, Supreme Lending adds marketing leader and Regions Bank welcomes affordable housing finance expert.

The Trump administration official announced that she will step into the role of senior adviser to the House Financial Services Committee.

Federal Reserve Bank of New York President John Williams says there is no evidence that the COVID-19 pandemic has ended the era of very low interest rates experienced before the crisis, although growth may be slower in the long run.

The regulator, which is seeking to halt the combination, said arguments involving constitutionality of its proceedings are "impertinent" and "immaterial."

Widespread efforts to save money couldn't entirely counteract the impact of continually rising commissions, compensation and other costs.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

"If this technology goes wrong, it can go quite wrong." Leaders call for government regulation of powerful tech tools.

Silicon Valley Bank's failure in early March kicked off a period of turmoil unlike anything the U.S. banking industry has been through since 2008 and 2009. Here's a look back at the key events.

Following sales to Mr. Cooper and The Loan Store, the wholesale giant reported originations of $891.2 million between January and March.

The company projects home buying costs could rise by a quarter in the next four months in the unlikely scenario.

The seasonally adjusted decline was in line with a low unemployment rate, but that could change later this year, according to the Mortgage Bankers Association.