Flagstar Bank raids Regions for its director of retail banking; prosecutors allege bank CEO got access to Trump in exchange for approving Paul Manafort mortgage; a potential turning point in fintech regulation; and more from this week's most-read stories.
The low-cost deposits that come with the deal for 52 Wells branches in four states should fund the Michigan company's effort to become a commercial lender.
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.
Tight margins, regulatory clarity and a renewed appetite to expand have made mortgage brokers and the wholesale channel attractive again, at least to the small and medium mortgage lenders.
