JPMorgan, Bank of America, Citigroup, Wells Fargo, and U.S. Bancorp all experienced yet another decrease in their third-party mortgage servicing portfolios in the second quarter of 2015.
Read More »How is the Industry Coping with the Rapidly Declining REO Inventory?
At the REO Lab at the 2015 Five Star Conference and Expo on Friday in Dallas, industry experts discussed how to get ahead and stay informed and equipped to take on the new REO marketplace.
Read More »Revenue Remains Constrained for Banks in Q2 Despite Record Earnings
Earnings for the U.S. banking industry totaled a record 43 billion dollars during Q2 2015, a 7 percent year-over-year increase. Regional and community banks reported significantly higher earnings than larger banks during Q2, which is consistent with past periods.
Read More »FDIC-Insured Banks Post Record Aggregate Quarterly Income
U.S. banking institutions that are insured by the Federal Deposit Insurance Corp. (FDIC) earned an aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion from a year ago, according to the FDIC's Quarterly Banking Profile released Wednesday.
Read More »OCC Is Concerned That Banks ‘Continue to Fail’ With SCRA Compliance
The Office of the Comptroller of the Currency (OCC) has expressed concern that some banks and nonbank financial institutions are failing in the area of compliance with the Servicmember Civil Relief Act (SCRA) of 2003 and not providing members of the military with all the protections the law affords them.
Read More »Mid-Tier Banks View Dodd-Frank Stress Test Process as More Important than Results
Fitch Ratings examined the Dodd-Frank Act Stress Test process and results, finding that steps taken to gather the data for mid-tier regional banks ($10 billion-$50 billion in assets) are a positive development.
Read More »Atlanta Fed Launches Online Publication Covering U.S. Economic Issues
Included in the inaugural edition of Economy Matters post is a piece examining how Atlanta Fed president Dennis Lockhart prepares for the Federal Open Market Committee (FOMC) and his experience with the Committee, which is scheduled to meet again in September.
Read More »Former CFPB Deputy Director Joins Eastern Bank
Boston-based Eastern Bank, a full-service commercial bank recently announced the appointment of Steven L. Antonakes as SVP and chief compliance officer.
Read More »Counsel’s Corner: Banks Win One Case Over Mortgage Underwriters, But It’s Not Over
Counsel's Corner is an ongoing series in which DS News talks with attorneys around the country about the most pressing issues facing the default servicing and mortgage industries. This installment features Howard Knee, a partner in the Los Angeles office of Blank Rome.
Read More »OCC Releases Community Reinvestment Act Evaluations for 33 Financial Institutions
The Office of the Comptroller of the Currency (OCC) on Wednesday released a list of Community Reinvestment Act (CRA) performance evaluations for 33 financial institutions.
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