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The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages.
February 21 -
HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.
February 15 -
The Dallas bank reported sizable growth in business and mortgage lending in the second quarter, but it more than doubled its provision for loan losses to cover four credits that went into nonaccrual status.
July 18 -
The deal is designed to improve capital ratios and reduce risk at the Seattle company.
July 3 -
The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.
June 6 -
As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.
May 31 -
Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour.
May 7 -
However, mortgage growth and servicing income weren't the only reasons profits rose by double digits at the Dallas bank.
April 18 -
Results were also aided by strong growth in residential construction, commercial and equipment financing.
April 18 -
Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.
March 28