Many banks have already scaled back home lending or even left the business. With profit margins shrinking, inventories of homes at crisis levels and competition from nonbanks intensifying, that’s unlikely to change. ... Read full article
HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges. ... Read full article
Blue Lion Capital, which has been a vocal critic of the Seattle company's strategy, also wants management to consider selling its MSR portfolio. ... Read full article
Dan Heine and Diana Yates were accused of hiding Bank of Oswego's condition by inaccurately reporting bad loans. ... Read full article
The rise in home values is good news for homeowners looking to tap the equity in their homes to pay down debt or make big purchases, but some consumer groups fear it could lead to a new wave of loan defaults. ... Read full article
The Seattle company warned that fourth-quarter profit could fall more than 80% from a year earlier. ... Read full article
