Warehouse lenders

It's the end of an era for BankUnited as John Kanas will step aside as president and chief executive on Jan. 1.

Mid America Mortgage will begin purchasing electronically closed loans through its correspondent lending channel.

Sterling Bancorp of Montebello, N.Y., has sold its mortgage business to Freedom Mortgage of Mount Laurel, N.J., for an undisclosed price.

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.

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.

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

TIAA is in talks to buy EverBank Financial Corp., the largest Florida-based lender by deposits, to expand in internet banking.

Mid America Mortgage in Addison, Texas, has executed its first electronic closing and e-note through its retail origination channel. The closing builds on the company's plan to expand e-closings and e-notes across all of its origination channels.

Impac Mortgage Holdings reported a year-over-year drop in net income during the second quarter as a more substantial loss on mortgage servicing rights and costs related to the CashCall Mortgage merger weighed on earnings.

EverBank Financial in Jacksonville, Fla., confirmed that it is in talks to sell itself.

Uncertainty about what constitutes a TRID error has had a direct impact on independent mortgage bankers. But some warehouse lenders that provide those originators with interim funding have also been affected by the liquidity concern, taking on increased risk exposure.

Nonbanks continue to expand their share of lending volumes as depositories keep scaling back their business in the residential mortgage space.

So far, 2016 has brought legal battles, election woes and TRID-related headaches to the mortgage industry, among many other major issues.

The National Association of Realtors has called on the Consumer Financial Protection Bureau to make changes to the TILA-RESPA integrated disclosures' post-consummation timelines to provide more lenders wiggle room for rectifying errors.

TRID wasn't as hard on the wholesale channel as was once feared, but some parties involved in the process still either do not fully understand the rule or haven't perfected their operations to handle it.

From electronic closings to e-warehouse lending, these executives are leading a movement to recast the industry's approach to digital.

Warehouse lenders dramatically expanded the amount of credit they were willing to extend in 2015, accommodating a noted increase in originator demand, according to The Reynolds Group's annual warehouse lending survey.

Station Place Securitization Trust 2016-1 plans to issue a $225 million mortgage securitization that will be the first backed by a revolving warehouse lending facility since 2009, according to Moody's Investors Service.

John Kanas, BankUnited's CEO, said the business never turned a profit, and there were no indications that it would. The company, meanwhile, remains committed to other residential lending operations while focusing on expanding its other businesses across Florida.

PNC Financial Services Group reported lower fourth-quarter profits on a decline in fees related to residential mortgages and deposit accounts.