WSFS Financial Corp. in Wilmington, Del., has named a former executive at rival Wilmington Trust Corp. to a key management position.

The number of residential loans entering the foreclosure process is falling, with "no evidence" that a backlog is building up that could suddenly flood the market, according to the chief economist of the Mortgage Bankers Association.

The national delinquency rate on outstanding home mortgages ticked up to 8.44% in the second quarter of 2011, which means roughly $793.4 billion of residential loans are 30 days or more past due.

A small mutual thrift in Maryland has won approval from state and federal regulators to convert to a publicly traded company.

The PMI Group late Friday told its mortgage banking clients that it has immediately halted the writing of all new insurance policies.

Intuit's Mint.com is adding bill payment reminders to its free personal financial management service. The tool lets users add any bill, assign an amount, name and due date.

S1's board urged shareholders Monday to vote in favor of the company's pending merger with Fundtech because it says the deal will propel the technology vendors ahead of their competitors. The board also urged shareholders once again to vote against an unsolicited acquisition bid from ACI Worldwide.

It really is a great time to be a credit risk officer, but many people might think that is an absurd statement.

Efforts to reach a settlement that would end the long-running probe of foreclosure practices are snagged over whether banks will get broad legal immunity from state officials for mortgage-related claims.

Since U.S. legislators and regulators failed to learn how banks' shared delusions generate systemic risk, it's not surprising that European banking regulators also missed the point.

Regulators closed banks in Florida, Georgia and Illinois Friday, all in places were many banks have already met their demise. On Thursday, a bank failed in Pennsylvania, one of just a handful to fail in that state in the last few years.

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Bankcard originations hit a three-year high during the first five months of 2011, as banks eased their underwriting standards and started reextending credit to riskier borrowers, according to the credit bureau Equifax.

With wild swings in the stock market, negotiations over protections form big changes in the stock values of buyers and sellers are bogging down an already slow deals market.

The Office of the Comptroller of the Currency closed Lydian Private Bank in Palm Beach, Fla., on Friday. The $1.7 billion-asset bank is the 10th bank to fail in Florida this year.

Modern Woodmen Bank, a relatively small direct bank, had to build and maintain a website that delivers more than what its two tech staffers could handle alone.

B of A's plans to cut 3,500 jobs — and perhaps more — are the tip of the iceberg for the entire industry. Expenses are too high and revenues too low for most banks to avoid layoffs.

The Mortgage Bankers Association raised its 2011 forecast of residential originations on Friday, citing historically low mortgage rates that have ignited refinance activity. But the higher projections do not indicate a recovery in the housing market.

The U.S. credit card charge-off rate rose slightly in July, but delinquencies fell to an all-time low as consumers continued to pay their credit card bills on time, Moody's Investors Service said in a report released Aug. 19.

There is now a gold-rush mentality among developers looking to produce the next hit mobile-payment application. The latest example was a "Pitch That App!" that drew more than 100 participants.