Fueled by lower rates, Countrywide Credit
Countrywide, the nation's second-largest originator of mortgages, funded
Refinancings accounted for 33% of total loan production. Only 20% of
Countrywide's home-equity loan volume tripled, to $127 million, and
North American Mortgage Co., also posted a healthy increase in
The Santa Rosa, Calif., lender originated $1 billion of mortgages, a 36%
Dime Bancorp announced that it was acquiring North American in June.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
