Flagstar Bank

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.

Customers are turning to search engines and business portals to find out if their bank is open before checking the bank’s own website. Maintaining accurate information across the web has become even more important during the pandemic.

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.

While no one is suggesting that the plan will help banks regain the share they've ceded to nonbanks, bankers believe that stabilizing Fannie Mae and Freddie Mac could at least help them keep what they have.

The low-cost deposits it gained in its purchase of 52 Wells Fargo branches, combined with higher interest rates, lifted Flagstar's net interest margin.

Branch acquisitions, once a popular way to scale up in new markets, have started to go by the wayside in the digital age.

The Michigan company has committed $50,000 to the partnership over the next two years amid a big push to modernize its product and service offerings.

The Atlanta-based consumer lender, which partners with both retailers and banks, cited a higher-than-expected cost of funds as one reason for its less rosy forecast.

Despite an overall weak mortgage originations market, Flagstar Bancorp's third-quarter earnings grew 20%, due in large part to its ongoing efforts to diversify operations.

A proposal to let certain thrifts operate like national banks blurs the line even further between the two institution types.

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.

The Michigan company had been operating under the supervisory agreement since 2010.

In recent weeks, several banks and fintechs have added new branches or new units, and in the process brought aboard new leadership. Here's a roundup of key hires.

The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income.

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.

Flagstar Bank, which is in the process of buying more than 50 branches from Wells Fargo, has hired Ryan Goldberg as a director of retail banking.

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.

While the West Coast still reigns as the epicenter of technology development, the Detroit area has quietly emerged as a proving ground for digital mortgage innovations.

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.