Aegis Mortgage Suspends All Loan Originations

August 08, 2007, 1:20 a.m. EDT 1 Min Read

DOW JONES NEWSWIRES

Aegis Mortgage Corp., a mortgage lender part-owned by private-equity firmCerberus Capital Management, suspended all loan originations on Monday.

Aegis also is unable to fund home loans that are already in its pipeline, aspokeswoman said.

The company sent an internal note out on Monday explaining the decision, sheadded. Part of the problem is that investors in the secondary mortgage marketare currently reluctant to buy Aegis loans, something many originators arestruggling with, she explained.

-Alistair Barr; 415-439-6400; AskNewswires@dowjones.com

MORE FROM AMERICAN BANKER

Digital banking

Nubank co-founder Cristina Junqueira sets sights on US market

After two successful international expansions, Junqueira aims to bring Nubank's products to U.S. consumers even as the neobank faces strong competition from U.S.-based banks and fintechs.

By Melinda Huspen

December 3
Fraud

Feds seize website used in massive crypto scheme

While banks welcome the "whole-of-government" approach that led the effort, private sector takedowns remain difficult without federal warrants.

By Carter Pape

December 3
Stablecoin

Europe's bank-backed stablecoin; Ripple gets a win in Singapore

A group of European banks have formed Qivalis, which expects to launch its coin in early 2026 as a counter to the U.S. dollar-led market. Plus, Singapore regulators give Ripple permission to expand and other news in the global payments and fintech roundup.

By John Adams

December 3
Federal Reserve

Bessent floats residency rule for regional Fed presidents

Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.

By Ebrima Santos Sanneh

December 3
Politics and policy

Dems demand answers from Fed, Treasury amid penny shortage

In a sternly worded letter, Sen. Elizabeth Warren and Rep. Maxine Waters demanded to know why federal agencies haven't provided more guidance since the one-cent coin was discontinued. They accused the Trump administration of making an "abrupt and unilateral decision" without thinking it through.

By Nathan Place

December 3
Earnings

RBC lifts its return target, downplays interest in US M&A

Royal Bank of Canada now expects to achieve an annual return on equity of at least 17% by 2027, executives said Wednesday, up one percentage point from the bank's earlier goal.

By Allissa Kline

December 3