Ten Federal Housing Administration lenders could be facing hefty penalties from the government following an investigation into their underwriting practices, according to the Department of Housing and Urban Development's inspector general.

Wilmington Trust, a unit of M&T Bank, was sued by heirs to Mennen Co., maker of Speed Stick deodorant, seeking more than $100 million in damages for investment losses.

Some mortgage experts are criticizing a recent rule change by the Federal Housing Administration that would allow borrowers who lost their homes to foreclosure or a short sale to qualify for a new mortgage in as little as a year.

Community bankers at a mortgage conference in North Carolina admit that higher rates and new regulations trouble them, but they say they are customizing purchase products, returning to old-fashioned sales efforts and learning new business skills in response.

Citigroup, the fifth-biggest U.S. mortgage originator last year, shut an office and is eliminating jobs as rising mortgage rates cut off loan refinancings and volumes slow.

Regional lenders including Fifth Third Bancorp and BB&T Corp. are rooting for the Federal Reserve to let interest rates rise, a move that could help their results more than at some of the biggest Wall Street firms.

Carolina Bank Holdings in Greensboro, N.C., has bought back some of the preferred stock it issued through the Troubled Asset Relief Program.

JPMorgan Chase is easing mortgage lending standards in housing markets hard hit by the crash where prices are surging.

A sharp rise in interest rates could cause customers to cash in CDs they have purchased only 30 to 60 days prior. It should not be easily cost effective to cash any CD prior to maturity.

Patrick Pinto, a former vice president at Oxford Collection Agency, was sentenced Tuesday in federal court to two years of probation for bribing an executive at U.S. Bank. Pinto also must pay a $10,000 fine and perform 100 hours of community service.

ROCKVILLE, Md. – The National Institutes of Health FCU has hired a real estate consultant, Scheer Partners, to find it a 20,000-square-foot property near the area’s biotechnical hub for a new headquarters.

Richard Carrión's loss is Popular's gain. He would have stepped down as CEO of the Puerto Rico bank had he won the presidency of the International Olympic Committee, but he lost to Germany's Thomas Bach.

WASHINGTON — Senate Banking Committee Chairman Tim Johnson, D-S.D., and Elizabeth Warren, D-Mass., are urging the Federal Housing Administration to change an employment eligibility requirement for borrowers looking to modify their mortgages.

Zions Bancorp. (ZION) in Salt Lake City plans to auction up to $250 million of debt through its online broker-dealer subsidiary.

Atlantic Coast Financial (ACFC) in Jacksonville, Fla., has picked a veteran of Fifth Third Bancorp (FITB) and the former Wachovia to be its new chief executive.

Evertec (EVTC), a payments business Popular started 25 years ago, filed a secondary offering with the Securities and Exchange Commission on Monday to sell 20 million shares, including 9 million shares currently held by the $37 billion-asset Popular.

CoBiz Financial in Denver has named new leadership at its banking franchise. Jonathan Lorenz has been named chairman of the board and Scott Page will replace Lorenz as chief executive at Colorado Business Bank and Arizona Business Bank.

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, said Tuesday that she is preparing to unveil an alternative housing finance reform proposal to rival more conservative legislation backed by many House Republicans.

Loan growth has become stagnant, if not declined, said most regional bank executives speaking at an industry conference this week. Many blamed continued caution by corporate borrowers.

The underwriters of Independent Bank Corp.'s (ICBP) recent offering plan to buy an additional $13.4 million worth of the company's stock.