While Freddie Mac is moving cautiously into buying manufactured housing loans not secured by land, Fannie Mae is moving more aggressively. Industry representatives are divided on which approach is superior.
The New Jersey bank is looking to raise offensive capital just months after its deal to be sold to Investors Bancorp was terminated. Investors was tripped up by regulatory concerns tied to Bank Secrecy Act and anti-money-laundering compliance.
The Office of the Comptroller of the Currency has named William A. Rowe, a deputy chief of staff and liaison to the Federal Deposit Insurance Corp., as its new chief risk officer.
TCF executives were peppered with questions about the quality of $345 million in auto loans recategorized as held for investment in the second quarter, as a result of the company’s recent move away from loan sales and securitizations.
In recent years, the country’s largest cellphone carriers have begun to experiment with new financing options for smartphones and other devices. That forebodes a deeper interest in financial products.
Banks are adding videoconferencing at branches, but consumers might prefer to video chat from their phones. Unlike with mobile banking, shirts and pants will likely be required.
Delmar will buy Liberty Bell Bank in New Jersey, which had survived a debilitating six-year battle for control with a former CEO. Liberty Bell also suffered from corporate theft and a check-kiting scandal.
A reserve release helped offset lower net interest income, reflecting the California company's efforts to exit businesses that hurt its bottom line last year.
