SBA’s biggest lender is overhauling its business model
Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits.
Corporate governance
How working with Freddie could boost one bank’s profit
First Foundation sold loans to Freddie Mac to free up space for higher-yielding credits. It then bought the securities that were formed to replace other, lower-yielding assets through an often overlooked program.
For Santander’s U.S. unit, even having a growth plan is an achievement
Scott Powell, the CEO of Santander Holdings USA, has spent years contending with a host of regulatory problems. He outlined a long-range vision that includes a branch-focused retail push and possible acquisitions.
Toyota finance arm lines up next CEO
Toyota Financial Services has promoted a company insider to replace Mike Groff, who is retiring at the end of this month.
HomeStreet to sell $5B in mortgage servicing rights
The deal is designed to improve capital ratios and reduce risk at the Seattle company.
Larry Summers to step down from LendingClub’s board
No reason was given for his exit by the Silicon Valley lender, which named another prominent economist, Susan Athey of Stanford, to its board of directors.
Cap on Wells Fargo’s asset growth could be gift to competitors
If the Fed order is lifted quickly — a big if — then the impact on Wells should be minimal. But if it lingers past 2018, then the bank could find itself on the losing end of the battle for customers and top talent.
Rising uninsured storm damage share points to flood coverage gaps
The percentage of flood damage to residential properties from Hurricane Harvey that is uninsured is turning out to be a little higher than earlier estimates.
5 ways a government shutdown affects mortgage lending
Here's a look at what happens at five federal agencies that support the mortgage industry during a government shutdown.
Equipment lending could take off under new tax structure
Banks that have flocked to the business because of higher yields and loan diversity stand to benefit if clients use tax savings to upgrade equipment.
One community bank’s novel approach to auto lending
Rather than jump right away into lending to car buyers, Access National will start by offering CRE and M&A financing to dealerships.
UBS ordered to pay $903,000 for firing mortgage market analyst
Former top commercial mortgage-backed securities strategist Trevor Murray accused the Swiss lender of illegally firing him in 2012 for blowing the whistle on attempts by traders to influence his research reports.
House passes flood insurance reform, but will Senate act in time?
The House approved a five-year extension of the National Flood Insurance Program on Tuesday, but it remains unclear whether the Senate will seek to pursue its own bill. The program is due to expire Dec. 8.
Senate passes bill to provide disaster relief, flood insurance forgiveness
The bill includes $16 billion in debt forgiveness for the National Flood Insurance Program and could benefit financial institutions’ customers in areas impacted by recent hurricanes and wildfires.
Ginnie accelerates issuer buyouts in response to storms
Ginnie Mae is giving expanded loan buyout authority to certain issuers in order to help them remove loans affected by Hurricanes Irma and Harvey from securitized mortgage pools.
Delinquencies in areas affected by Harvey jump 16%
Mortgage delinquencies in areas affected by Hurricane Harvey last month were 16% higher than in July, according to Black Knight Financial Services.
Investors seek change to Freddie CRT policy in storms’ wake
Mortgage investors want Freddie Mac to align its policy with Fannie Mae's when it comes to how delinquencies related to Hurricane Harvey affect credit risk transfer deals.
Houston-area mortgages, auto loans expected to take big hits
Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.
