Mortgages

California's Department of Business Oversight said Friday that it will drop its effort to suspend Ocwen Loan Servicing's mortgage license in California. The Atlanta servicer had failed for more than a year to provide its California regulator with requested information

IMGCAP(1)]

Early signs point to a wave of Federal Housing Administration borrowers trying to tap into lower prices for mortgage backing.

BB&T and KeyCorp's quarterly results showed how more diversified regional banks can turn to their insurance sales, investment banking and other fee generators for backup until interest rates improve. Whereas the smaller Huntington Bancshares needed strong loan growth in a quarter (and year) when fees fell.

The consumer bureau and Maryland's AG allege the loan officers received consumer data and other services in return for business referrals.

KeyCorp in Cleveland beat earnings forecasts on the strength of increased fee income.

Earnings at Discover Financial Services plunged by 33% in the fourth quarter, largely due to a charge tied to the firm's mortgage business and a previously announced revision to its flagship credit card program.

Hearing arguments in Texas case, Justice Scalia and others were skeptical that the controversial legal theory used in fair housing cases should be invalidated.

Fifth Third Bancorp and U.S. Bancorp say they will delicately approach expenses in 2015 — or at least until rates rise. They are investing where they must, but pinching where they can, and trying to manage expectations on loan growth.

Five Star Bank is the latest financial institution to settle claims that it avoided lending to minorities. More redlining cases can be expected, industry experts say.

Julian Castro, secretary of housing and urban development, said 2015 will be a year of "housing opportunity" as the economy continues its rebound.

Ocwen Financial Corp. named two new members to its board of directors as the nonbank servicer works to repair its image in the eyes of regulators and investors.

The Consumer Financial Protection Bureau has finalized tweaks to a mortgage disclosure rule set to take effect later this year.

Regional banks M&T and Regions Financial continue to see healthy loan growth, but low interest rates (combined with their own special problems) are preventing them from translating it into higher profits.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

Regions Financial in Birmingham, Ala., reported a lower fourth-quarter profit because interest rates squeezed lending margins and mortgage-related revenue fell.

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.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Republic Bancorp in Louisville, Ky., reported a quadrupling in profit due to higher interest income and lower expenses during the fourth quarter of 2014.

Mortgages for Gulf War veterans have more than tripled since 2008, which along with a spirited outreach program and the post-crisis credit squeeze, has helped fuel a steady increase in Department of Veterans Affairs lending.