Mortgages

The San Francisco bank has produced enough growth in mortgages, C&I and other areas and made other moves to offset low rates. It is a hopeful example for mortgage-heavy banks and other lenders battling tight margins.

Still reeling from underwriting guidelines that went into effect last year, some small lenders are worried that a new mortgage disclosure regime might be the thing that pushes them over the edge.

More banks are buying mortgage servicing rights now, reversing a post-crisis shift that saw nonbanks dominate the MSR purchasing landscape, according to Fitch Ratings.

Ocwen Financial announced a preliminary loss of $546 million, or $4.18 per share, for fiscal year 2014 Tuesday, on a higher-than-expected goodwill impairment and charges stemming from the company's settlement with the New York Department of Financial Services.

Citigroup has named Stephen Bird, chief executive of its Asia-Pacific division, to head its global consumer bank as part of a broader shuffling of executives.

Two House Financial Services subcommittee chairmen are urging the Consumer Financial Protection Bureau to delay enforcement of a new disclosure regime due to take effect this summer until Jan. 1.

WASHINGTON — Mortgage lender RMK Financial Corp. is facing a $250,000 fine by the Consumer Financial Protection Bureau on grounds that it used deceptive advertising.

Independent lenders rebut suggestions that they pose a greater risk to FHA (and hence taxpayers) than the large banks.

The $5.8 billion First Financial said in a press release Wednesday that it will pay $1.9 million in cash for 4Trust Mortgage in a deal that should close next month.

The Topeka FHLB's plan to allow participations in newly issued mortgage pools may benefit members institutions and the bank itself – and could soon be imitated by other Home Loan Banks.

The partnership with MAX Exchange is designed to enable community banks to sell their loans and get better pricing.

Mortgage subservicers will need to do a lot more than subservice pretty soon, according to the head of the largest company in the field.

The shift in market composition is fueling concerns that if defaults rise, the Federal Housing Administration would have a harder time making lenders eat the losses on poorly underwritten loans.

Wells Fargo's quality-control procedures will play a key role in a closely watched mortgage-fraud case that could go to trial this summer. Federal prosecutors are using the bank's internal reports to allege its executives knew about deficient loans.

The bill would require written contract amendments, signed by the lender, for most loans. Legislators took up the issue after a judge in the state sided with a borrower's claim of having an oral agreement from Bank of America to modify a mortgage.

The technology, still in its early development stages, will analyze Home Mortgage Disclosure Act files prior to formal submission to the regulator so lenders can spot and fix errors faster.

Bank of America is asking the Justices to overturn lower-court rulings that mortgage loans with a secondary lien on a debtor's asset can be "stripped down" to zero when the collateral is completely underwater. The decision could affect an even wider range of second liens.

Mel Watt, the former North Carolina lawmaker, has earned praise for his cautious approach to guiding the future of Fannie Mae and Freddie Mac. But critics say he is making it even more difficult to craft a system without them.

Large mortgage servicers continued to shed delinquencies as overall loan performance improved in the fourth quarter, the Office of the Comptroller of the Currency said Friday.