Mortgages

Steve Calk, the head of The Federal Savings Bank, was a "co-conspirator" in an effort to defraud the Chicago bank, a prosecutor said at the trial of former Trump campaign chair Paul Manafort. Could Calk be charged with a crime?

Stephen Calk, the CEO of The Federal Savings Bank, expedited approval of a mortgage to the onetime Trump campaign chair in hopes of winning a job as Treasury secretary or housing secretary, a former bank employee testified Friday.

The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.

Ten years after faulty mortgages upended the global financial system, Wells Fargo agreed to pay $2.09 billion to settle a U.S. probe into its creation and sale of loans that contributed to the disaster.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

The agency said multiple stakeholders had requested more time to evaluate the proposal.

Industry veteran A.W. Pickel III became president of Waterstone Mortgage in June, and now the company has decided to promote him to succeed longtime CEO Eric Egenhoefer.

With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension.

The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income.