News Topic: Flagstar Bancorp

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers. ... Read full article

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July. ... Read full article

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million. ... Read full article

Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending. ... Read full article

Customers are turning to search engines and business portals to find out if their bank is open before checking the bank’s own website. Maintaining accurate information across the web has become even more important during the pandemic. ... Read full article

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance. ... Read full article

While no one is suggesting that the plan will help banks regain the share they've ceded to nonbanks, bankers believe that stabilizing Fannie Mae and Freddie Mac could at least help them keep what they have. ... Read full article

The low-cost deposits it gained in its purchase of 52 Wells Fargo branches, combined with higher interest rates, lifted Flagstar's net interest margin. ... Read full article

Branch acquisitions, once a popular way to scale up in new markets, have started to go by the wayside in the digital age. ... Read full article

The Michigan company has committed $50,000 to the partnership over the next two years amid a big push to modernize its product and service offerings. ... Read full article

The Atlanta-based consumer lender, which partners with both retailers and banks, cited a higher-than-expected cost of funds as one reason for its less rosy forecast. ... Read full article

Despite an overall weak mortgage originations market, Flagstar Bancorp's third-quarter earnings grew 20%, due in large part to its ongoing efforts to diversify operations. ... Read full article

A proposal to let certain thrifts operate like national banks blurs the line even further between the two institution types. ... Read full article

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages. ... Read full article

The Michigan company had been operating under the supervisory agreement since 2010. ... Read full article

In recent weeks, several banks and fintechs have added new branches or new units, and in the process brought aboard new leadership. Here's a roundup of key hires. ... Read full article

The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income. ... Read full article

Flagstar Bank raids Regions for its director of retail banking; prosecutors allege bank CEO got access to Trump in exchange for approving Paul Manafort mortgage; a potential turning point in fintech regulation; and more from this week's most-read ... Read full article