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Tag Archives: PNC

Tony Meola Joins Veptas Board

As a Board member of Veptas Inc. the mortgage industry veteran will also focus on developing strategic relationships for its technologies and services.

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Financials Take a Broad Hit

Wells Fargo, JPMorgan Chase, and Citigroup reported their second quarter earnings on Friday morning. Read on to see their figures and exactly how the market reacted.

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Gus Faucher Named PNC Chief Economist

The PNC Financial Services Group, Inc., announced on Wednesday that Augustine (Gus) Faucher will assume responsibility as Chief Economist effective immediately. Faucher succeeds Stuart G. Hoffman, who had served PNC as Chief Economist for 37 years.

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A Mixed Bag of Profitability and Mortgage Income

Bank of America, JPMorgan Chase, PNC, and Wells Fargo posted solid revenues to end 2016, though net income was down for two of them, according to the banks' latest earnings reports. How did mortgage income fare at these institutions?

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Mortgage Collectors Silence Homeowners with ‘Gag Orders’

A curious piece of text is appearing in some homeowner's loan modification agreements—by accepting a modification from a bank or non-bank servicer, the homeowner agrees to never publicly say, write, or post anything negative about the company doing the modification. Originally in a report from Reuters, Ocwen, Bank of America, and PNC Financial Services Group are adding new terms to their modification contracts to prevent homeowners from publicly disparaging the companies.

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PNC Reports Q1 Income of $1.1 Billion

PNC Financial Services Group released its quarterly earnings, reporting a net income of $1.1 billion, or $1.82 per diluted common share. While net income was positive, it didn't reach as high as the fourth quarter of 2013, when net income was $1.1 billion or $1.87 per diluted common share.

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