News Topic: mortgages

Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable. ... Read full article

Capital One Financial will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable. ... Read full article

More FHA homeowners than expected are refinancing out of the program and into conventional mortgages, despite an increase in mortgage rates over the past year. ... Read full article

Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives. ... Read full article

Wells Fargo & Co. added $1 billion in the third quarter to what it says the bank may face in possible legal expenses. ... Read full article

Hopes that tax reform might soften a weakening of the mortgage interest deduction were quickly dashed as the GOP plan landed a double punch on the incentive cherished by the mortgage and housing industries. ... Read full article

A securities settlement, portfolio asset sales and greater interest among smaller lenders helped Freddie Mac compensate for potential losses from the catastrophic hurricane season. ... Read full article

TCF is looking to diversify its streams of revenue as it dials back auto lending amid concerns about weakening credit quality. ... Read full article

Days after revealing he was in full remission from cancer, David H. Stevens said he is retiring as president and CEO of the Mortgage Bankers Association. ... Read full article

Net income at the Livingston, N.J., company climbed 67% due to a variety of one-time items tied to its ongoing restructuring. ... Read full article

SunTrust’s yields have improved as it has increased its credit-card and student lending and made more online personal loans through its LightStream subsidiary. ... Read full article

Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations, ... Read full article

Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small. ... Read full article

Net interest margin widened 12 basis points, too. Those lending results offset a decline in fee income at the Minneapolis company, which saw earnings rise 4%. ... Read full article

Fee income also surged as the San Francisco bank reached the $100 billion mark in wealth management assets. ... Read full article

Wells Fargo took a surprise $1 billion charge in the quarter for previously disclosed pre-crisis, mortgage-related regulatory investigations. It contributed to a 19% fall in profits. ... Read full article

The Tennessee bank said it has bought Professional Mortgage in Greenville, S.C., which services about $1.1 billion of commercial mortgage loans for 23 correspondent life company lenders. ... Read full article

The Consumer Financial Protection Bureau was created in part to ensure that nonbanks are subject to federal oversight, but the fact is that 99% of banks are exempt from CFPB supervision. ... Read full article