Mortgages

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

Even "lifers" are considering new jobs as financial institutions bulk up to expand into new markets.

On Dec. 31, 2021. Dollars in thousands.

The new hires joined Veritex from Bank of Houston, which has also been aggressively recruiting bankers.

The lender is the latest to announce cuts in response to declining production volume.

More than two years into the pandemic, banks hit several turning points during the first quarter. On the positive side, commercial loan growth finally materialized, but there were also snags, particularly in fee income.

The bank didn’t disclose which specific employees, or how many, were impacted by the announcement.

The Columbus, Ohio, bank, which already makes more loans than any other lender in the Small Business Administration's flagship program, is testing a plan to offer them outside of its Midwestern footprint.

Federal housing funds are targeted at building more apartments, not promoting homeownership, which is essential to building intergenerational wealth. There's an easy fix lawmakers have long ignored.

The bank has pivoted its commercial real estate operation as the rise of work-from-home arrangements has impacted market values. The only type of office space it's financing is Class-A buildings in major cities.