Banking

The payment hierarchy is dynamic. Lenders using historical payment models to set strategy risk significant exposure on their existing loan portfolios as well as on acquisition opportunities when consumer preferences inevitably shift.

The future is bright for mortgage servicers, but his PE firm agreed to sell Homeward Residential to Ocwen because it had held the investment long enough — and owning stock in a bigger servicer will pay off, billionaire Wilbur Ross said.

Bank of the West has already begun using Detica NetReveal software to detect suspicious online, wire and ACH payments.

Small-bank executives sound call for stronger firewalls between financial activities, but many say a straight return to the Depression-era law could have unintended consequences, including to their own business.

Farmers & Merchants Bank in Timberville, Va., is expanding its footprint in the Shenandoah region.

More community banks are paying vendors for online courses that teach workers about the raft of new regulations, how to be a manager and other topics. The new way is cheaper and faster, but has drawbacks.

Prosper Marketplace, the online peer-to-peer loan facilitator, announced Oct. 3 that it hired Josh Tonderys, a former executive at Barclaycard US, to be its chief risk officer.

The bank is placing its stake in the crowded global treasury management market by taking on the tricky IT task of building a centralized payments hub for its financial services and corporate clients.

TraceSecurity has launched TraceCSO, a software offering delivered via the cloud that helps banks manage their data security.

Republican presidential nominee Mitt Romney said he would consider limiting the size of the home mortgage deduction to help pay for an overall reduction in tax rates.

Frost Bank in San Antonio and the Baker Group, a securities firm in Oklahoma City, have agreed to share their bank clients with each other.

NCR announced Wednesday that Cincinnati payments processor Vantiv has certified NCR's Aptra Edge ATM software. That means that Vantiv (formerly Fifth Third Processing) will allow NCR's ATM management software to run over its network on any teller machine.

Prosper Marketplace, the online peer-to-peer loan facilitator, announced Oct. 3 that it hired Josh Tonderys, a former executive at Barclaycard US, to be its chief risk officer.

The Fed and merchants faced tough questions in federal court on Tuesday in a case that could decide the fate of an estimated $3 billion in interchange fees.

Investors and payment-industry participants declared the recent partnership between Discover Financial Services and PayPal Inc. a game-changer in payments. But will consumers agree?

Since April, the state of California's monitor for the multi-state mortgage settlement has received more than 200 complaints about servicers moving homes toward foreclosure while the homeowner pursues a loan modification, according to a new report.

The Federal Reserve Board has terminated an enforcement action against West Concord Bancshares in Minnesota.

The privately held investment firm, based in Birmingham, Ala., is buying FBC Mortgage of Orlando, Fla., a unit of Florida Bank of Commerce, for undisclosed terms, the companies said Tuesday.

Angst over the scope enforcement was palpable at an Ellie Mae conference as mortgage lenders try to avoid the types of hefty fines the agency has already levied on credit card companies.

Wal-Mart is dipping one more toe into financial services by letting customers reload a range of prepaid cards at its registers — for a fee.