Mortgages

Ocwen Financial Corp. named two new members to its board of directors as the nonbank servicer works to repair its image in the eyes of regulators and investors.

The Consumer Financial Protection Bureau has finalized tweaks to a mortgage disclosure rule set to take effect later this year.

Regional banks M&T and Regions Financial continue to see healthy loan growth, but low interest rates (combined with their own special problems) are preventing them from translating it into higher profits.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

Regions Financial in Birmingham, Ala., reported a lower fourth-quarter profit because interest rates squeezed lending margins and mortgage-related revenue fell.

The Ocwen spinoff Altisource Portfolio Services delivered notices to more than 800 employees and hundreds of contractors this week as part of the company's scramble to reassure investors.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Republic Bancorp in Louisville, Ky., reported a quadrupling in profit due to higher interest income and lower expenses during the fourth quarter of 2014.

Mortgages for Gulf War veterans have more than tripled since 2008, which along with a spirited outreach program and the post-crisis credit squeeze, has helped fuel a steady increase in Department of Veterans Affairs lending.

Bank of America's expenses still far exceed those of JPMorgan Chase and Wells Fargo, so analysts were clearly disappointed Thursday when CEO Brian Moynihan failed to outline any specific plans for further lowering overhead.

Facing the prospect of losing its license in California, Ocwen would be wise to settle its probe by state regulators in a timely manner, observers said. If it doesn't, the mortgage servicer could lose significant revenue and might even face a cash crunch.

While put-backs and litigation risk are widely recognized as factors that have contributed to tight credit conditions, another factor — high servicing costs for nonperforming loans — is being overlooked.

Lenders could save time and money by offering homeowners the opportunity to finance the purchase of a rooftop solar system into a new mortgage.

Citigroup, the third-largest U.S. bank, said profit tumbled 86 %, missing analysts' estimates after year-end trading slumped more than forecast.

Bank of America, the second-largest U.S. bank, said fourth-quarter profit fell 11% as revenue from fixed-income trading declined.

A federal agency's plan to tighten membership rules for Federal Home Loan banks would hurt community banks and credit unions — and could endanger the financial system, according to a broad array of stakeholders, including state regulators, lawmakers and institutions.

Wells Fargo saw more of its origination volume come from refinancings, while JPMorgan Chase continues to rebuild its correspondent channel, the banks said in their fourth-quarter results.

Mortgage application volume experienced the largest week-over-week gain in more than six years, but despite the FHA's announced cuts to insurance premiums, interest in conventional loans was greater.

Jane Fraser, the CEO of CitiMortgage and head of Citigroup's U.S. consumer and commercial banking units, is handing responsibility for day-to-day global mortgage operations to her current mortgage lieutenant, CD Davies.

Capital markets hold the key to the future for the consolidating Wall Street landlords, but the path through is downright bloody.