Retail & Commercial

The Department of Housing and Urban Development will sell a $1.7 billion portfolio of nonperforming Federal Housing Administration loans in September as part of a bulk sale program aimed at helping borrowers avoid foreclosure, the loan sale advisory firm DebtX said Thursday.

Over objections from residents and lenders, the county passed a resolution Thursday authorizing its staff to seek bids from private companies looking to buy up and restructure underwater mortgages.

Discover Financial Services now allows consumers to link Discover cards to Google's mobile wallet from Discover's website.

Fannie and Freddie's earnings from guaranteeing mortgages were a footnote when they were racking up huge losses. Now that they've stabilized, what fees their conservator sets will determine whether they shrink or can again be profitable.

Ocwen Financial (OCN) in Atlanta has hired a mortgage industry veteran to fill a new position for government and community relations.

Square is taking a bigger bite at the small-business market by offering flat-fee processing to merchants, furthering efforts to present itself as a more full-featured option for card acceptance.

The troubled Royal Bank of Scotland is reluctant to sell its profitable Citizens Financial Group unit in the U.S., so investment bankers and others are urging it to sell its branches in two markets, Chicago and Detroit, where it is a relatively minor player.

Square is taking a bigger bite at the small-business market by offering flat-fee processing to small merchants, furthering the company's efforts to present itself as a more full-featured option for card acceptance.

We don't need and shouldn't have one-size-fits-all regulatory policies. Community banks are different from their larger U.S. counterparts.