Rocket Mortgage loans now offered to a community bank’s customers
Fourth Capital Bank's collaboration with the megalender is made possible through a partnership with Q2 Holdings.
Industry News
Bankers see pockets of strength amid recession indicators
Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job growth.
Columbia expects loan growth in the low or mid single digits this year
The loan-growth projections are for Columbia Banking System itself, before the Tacoma, Washington, bank officially merges with Umpqua Holdings. The $5 billion deal is scheduled to close Feb. 28.
Rocket Mortgage cuts 50 positions
The layoff round, which a spokesperson said represents "less than one quarter of one percent of the roles in the company," comes after Rocket announced a 20-person reduction in the marketing team in early January.
PNC Financial girds for ‘shallow’ recession, builds reserves
The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.
North American Savings Bank exits consumer direct home lending
The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.
Lender says rival stole trade secrets, data breach followed
Northpoint's description of insider wrongdoing as cause for its November security leak is a rare admission of the type of cyberattack a mortgage firm has suffered.
AmeriFirst Financial stopped funding loans in December
The Arizona-based lender has been in business for 35 years and has branches in over 20 states.
Regina Lowrie, first woman to chair the MBA, dies at 68
She led two mortgage companies in a male dominated industry, and most recently was CEO of risk management firm Dytrix.
PrimeLending launches new mortgage business with Texas homebuilder
Kindred Home Loans will serve buyers of properties in Dallas and San Antonio markets.
Union Home Mortgage acquires Amerifirst
The partnership will expand UHM reach to new markets in Florida, Michigan, Ohio, North Carolina and California.
AmeriFirst Home Mortgage to cut 59 workers
The firm said it would still originate and service loans out of the office where the cost-cutting measures will occur.
Bank M&A in 2023: Hints of recovery, but no sudden rebound
Dicier credit conditions, recession fears and tougher regulatory scrutiny combined to weaken merger activity in 2022. A push for scale is bound to resume when interest rates level off — at least among smaller banks, analysts say.
Bankers list their top regulatory compliance concerns for 2023
In a new survey, executives at banks and credit unions registered the highest level of anxiety about a forthcoming data-collection rule in small-business lending.
Mortgage delinquency rate will rise by 0.5% in 2023: TransUnion
The uptick in the 60-day-plus metric could reverse the bulk of the decline that occurred between 2019 and 2021.
Figure-affiliated SPAC plans to merge with mortgage bank
A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.
Finance of America acquiring top reverse lender AAG
The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.
BofA slows hiring as fewer workers leave bank, Moynihan says
Bank of America is slowing hiring as fewer employees leave in an attempt to manage the company's headcount ahead of a possible U.S. recession, Chief Executive Brian Moynihan said.
TD, BMO push back their timelines for closing M&A deals
Both Canadian banks are awaiting green lights from regulators for their pending acquisitions of U.S. banks. "We don't control the timing of all the regulatory approvals," TD's chief executive said Thursday.
Angel Oak Home Loans sells retail division
Amid scuttlebutt, the Atlanta company is mum on buyer, which is rumored to be CrossCountry Mortgage.
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