South Carolina Merger To Create Mega-Bank
Two South Carolina financial institutions - Columbia-based SCBT Financial Corp. and Charleston-based First Financial Holdings Inc. - have announced a merger that will...
Existing-Home Sales Up Slightly In January
Total existing-home sales increased 0.4% to a seasonally adjusted annual rate of 4.92 million in January from a downwardly revised 4.90 million in...
Chamber Of Commerce Urges Streamlining Of CFPB Operations
The U.S. Chamber of Commerce has sent a letter to Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), that calls for...
Housing Starts Ticked Upwards In January
Single-family housing starts in January were at a rate of 613,000, which is 0.8% above the revised December figure of 608,000, according to...
Mortgage Applications, Refi Activity Trended Down Last Week
Both mortgage applications and refinance activity took a dip last week, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications...
Ally Unloads Correspondent, Wholesale Broker Businesses
Walter Investment Management Corp. is acquiring the correspondent lending and wholesale broker businesses of Ally Bank, the direct banking subsidiary of Ally Financial...
Home Builder Confidence Dips Slightly
Builder confidence in the market for newly built, single-family homes fell one point to 46 on the National Association of Home Builders (NAHB)/Wells...
Regulators Shutter Chicago-Based Bank
The Illinois Department of Financial and Professional Regulation's Division of Banking has closed Chicago-based Covenant Bank and appointed the Federal Deposit Insurance Corp....
SolomonEdwards Expands Mortgage Services Practice
SolomonEdwardsGroup LLC (SEG), a business advisory and professional staffing firm, has expanded its mortgage services team with the addition of several new professionals....
LPS Comes To Terms With The DOJ
Lender Processing Services Inc. (LPS), a provider of technology and services to the mortgage and real estate industries, says it has entered into...
GAO Expresses Concern On FHA Risks
The Government Accounting Office (GAO) is warning that the problems facing the Federal Housing Administration (FHA) may endanger the agency's 'financial soundness.' In...
Wells Fargo To Close Edward Jones Mortgage
Wells Fargo & Co. and the St. Louis-based investment firm Edward Jones are dissolving Edward Jones Mortgage, a joint venture they created in...
Flagstar Sells DocVelocity to Capsilon
Troy, Mich.-based Flagstar Bancorp Inc. has agreed to sell the assets and operations of DocVelocity, its document imaging business for mortgage lenders, to...
Senate Democrats: Blocking Cordray Is ‘Inconsistent With Our Democratic Values’
The controversy over Richard Cordray's directorship of the Consumer Financial Protection Bureau (CFPB) continued with Senate Democrats sending a letter to President Obama...
RE/MAX: Mixed Picture On January Home Sales
January home sales were 22% lower than the number of sales in December, but were 9.1% above January 2011 levels, according to new...
Neugebauer: FHA Has A ‘Credibility’ Problem
The honesty and viability of the Federal Housing Administration (FHA) was called into question by Rep. Randy Neugebauer, R-Texas, chairman of the House...
White House Issues Executive Order On Cybersecurity
President Obama signed an executive order designed to implement a framework of cybersecurity practices protecting American companies, with a particular focus on financial...
Mortgage Applications, Refi Activity Take A Spill
Last week saw a dip in both mortgage applications and refinance activity, according to data from the Mortgage Bankers Association (MBA) for the...
California Tops Nation In 2012 Rent Increases
The average rental prices for single-family residences in La Quinta, Calif., increased more than anywhere else in the country during 2012, according to...
Record Number Of California Homes Bought With Cash
The number of California homes purchased with cash reached an all-time high last year, according to new data from San Diego-based DataQuick. Last...