Eighteen months after the $2.6 billion deal was announced — and five days before the Oct. 31 deadline — New York Community is still waiting for regulatory approval to buy the Michigan bank. On their joint earnings call, the companies wouldn't say where the deal stands.

The transaction allows for portfolio defense as well as supporting Marlin's move into Ginnie Mae servicing.

And a trio of large publicly traded nonbank lenders looking to defend market share may consider buying those mid-sized brethren, a Keefe, Bruyette & Woods report said.

While intercompany relationships are established in any environment, activity seems to pick up when business declines.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

The deal with American Mortgage Services Co. comes as originations continue to slow. However, lower valuations may be limiting current M&A activity, according to some experts.

SPS will have roughly 1.4 million mortgages in its portfolio after the transaction closes, something the two companies estimate will occur in the fourth quarter of this year.

National real estate company Redfin is looking for a new tenant to take over the Frisco, Texas office space that housed its now-shuttered mortgage division.

The transaction to buy Roscoe State Bank is slated to close around Oct. 1, subject to completion of the remaining closing conditions.

With Mortgage Bankers Association numbers showing just 57% were profitable in the second quarter, companies have tough decisions to make, but they have options that will help many stay the course.