Matt Scully
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Homeowners associations seeking unpaid dues are seizing on a court decision allowing them to foreclose on properties ahead of banks. FHFA is litigating to defend Fannie and Freddie mortgages in a way that some say is controversial. Private lenders, meanwhile, are still trying to figure out how to deal with the problem before it spreads to more states.
The Justice Department has subpoenaed another subprime auto lender as it extends its investigation into the industry.
Associated Banc-Corp in Wisconsin reported a modest increase in quarterly earnings, and its CEO said it is actively seeking acquisition targets.
The Ocwen spinoff Altisource Portfolio Services delivered notices to more than 800 employees and hundreds of contractors this week as part of the company's scramble to reassure investors.
The big oil lender faces a classic dilemma: extend more credit to energy companies in need of more capital, or lock down to guard against a prolonged downturn.
Citigroup plans to shed 60 branches as part of its ongoing restructuring, a number of which are said to be in California. It shopped some of the California branches last year, and it may again try to sell some of them.
The investment firm made the decision after veteran analyst Anthony Polini and an associate left to form a new research arm for American Capital Partners.
Capital markets hold the key to the future for the consolidating Wall Street landlords, but the path through is downright bloody.
Freddie Mac in the next month plans to approve three more lenders, including one bank, to make multifamily loans between $1 million and $5 million for GSE purchase and securitization, according to an official. Banks were not initially courted.
The San Francisco bank will lend to more borrowers with weaker credit histories, an official at the bank said. Bank of the West, a BNP Paribas subsidiary, has proven to be more aggressive than U.S. peers in the past.