The deal will create liquidity for the lender's shareholders while giving the distillery access to the mortgage company's sales tools, the firms said.

After hikes pinched profits across the industry, a move in the opposite direction could be the start of a more promising trend. But bankers caution that the immediate effects of a September rate cut figure to be small.

Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans.

The lender is asking U.S.Tax Court to find IRS adjustments in error and clear the company of any liability or penalties.

The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.

Details regarding the settlement are sparse, but will be finalized by Sept. 30, 2024, documents show.

The top five mortgage originators had an average of 162,666 originations last year according to Home Mortgage Disclosure Act data.

Flagstar Bank sued Hometown Lenders for $21 million in 2023, after the lender defaulted on a $60 million warehouse line.

Patrick Harker, the longest serving regional reserve bank president, will leave office in June 2025. Directors at the Fed bank have started the search for his replacement.

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.