Retail & Commercial

Revere Bank in Laurel, Md., has raised $15.5 million through a private placement of its common stock. The $717 million-asset bank sold 1 million shares at $15.50 per share.

The decline in foreclosures and short sales is contributing to the dearth of housing inventory, complicating the prospects for home buyers feeling the pinch of tight credit and lenders that need purchase mortgages to supplant refinancing once interest rates rise.

Equifax Inc. announced Monday that it’s working with Credit Builders Alliance to help Americans who are considered to be “credit invisible.”

As marketplace lenders, robo-advisers and other startups nibble away at the profitable, customer-facing parts of banking, executives at last week's Digital Banking Summit discussed how banks can defend against "unbundling."

California Gov. Jerry Brown violated state law by diverting more than $331 million in mortgage settlement funds for uses unrelated to housing, a Superior Court judge ruled.

Community Bank in Pasadena, Calif., has completed a debt restructuring that will reduce second-quarter profit, but will improve its cost of funds and margins and increase yearly income.

Institutions with $5 billion to $50 billion in assets have gained a bigger slice of the industry's assets since 2010 by focusing on specialized lending and redefining their markets.

A study of the top five U.S. auto insurers found an average 49% difference in premium costs for someone with an excellent credit score compared with someone with no credit history.

RealtyMogul.com in Los Angeles said it reached agreements for a total of $250 million in capital, which it will use to offer new products.

The $5.9 billion-asset company sold the subsidiary, First Merchants Insurance Group, on June 12 to USI Insurance Services, an insurance brokerage firm in Valhalla, N.Y.