Mortgages

PricewaterhouseCoopers LLP failed to spot for seven years a multibillion fraud that led to the demise of Taylor Bean & Whitaker Mortgage Corp., a lawyer for the lender's bankruptcy trustee told a Miami jury on Tuesday.

Securities regulators are investigating and preparing to bring a civil case against Edwin K. Chin, a mortgage bond trader who was fired from Goldman Sachs Group Inc. in 2012, according to people with knowledge of the matter.

PHH Corp. said Merrill Lynch plans to bring more of its origination activity back in house and that could hurt pretax earnings by $13 million in the second half of the year.

The biggest change in banking in the last 60 years is the shift in balance sheets from business lending to real estate finance and therefore more risk tied to volatile real estate prices.

Farmer Mac posted lower net income than during the second quarter of 2015 on a loss on financial derivatives and hedging activities.

Walter Investment Management Corp. lost $232.4 million in the second quarter as the company took $216 million in charges related to its mortgage servicing portfolio.

Redwood Trust reported higher net income during the second quarter from a year ago, thanks to an increase in net interest income and a decrease in operating expenses.

Freddie Mac has released a new online tool for lenders that determines whether a borrower's income qualifies them for a low down payment mortgage on a particular property.

By buying EverBank Financial, the insurance and retirement savings behemoth will gain billions of dollars in low-cost deposits and access to many new lending products that it can offer to millions of clients.

The Inspector General of the Department of Housing and Urban Development has found a new ally in his fight to reform the down payment assistance programs run by HUD and state and local housing finance agencies.

Marketplace lender Lending Club has added Fannie Mae Chief Executive and President Timothy Mayopoulos to its board of directors.

Under pressure from regulators to beef up risk management in commercial real estate lending, banks are using new software tools to improve analysis.

Deval LLC in Dallas has received Fannie Mae servicer approval.

When the limits on two of Bill Johnson's credit cards were lowered from $20,000 to $6,000, his outstanding balances jumped from a perfectly acceptable 20% to a dangerously high 66%.

Fannie Mae and Freddie Mac could need as much as $126 billion in bailout money from taxpayers in a severe economic downturn, according to stress test results released by their regulator.

Republican presidential nominee Donald Trump's campaign has named The Federal Savings Bank Chief Executive Steve Calk to its economic advisory council.

Fannie Mae reported that the Home Purchase Sentiment Index rose 3.3 points in July to 86.5, an all-time survey high.

The former officers and directors for Midwest Bank & Trust have reached a $26.5 million settlement with the Federal Deposit Insurance Corp. over charges of negligence during the financial crisis.

BOK Financial plans to exit the correspondent lending channel by the end of the year because of increased competition and low rates.

TIAA in New York has agreed to buy EverBank in Jacksonville, Fla.