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Texana Bank to trim workforce in California

Housing Wire

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. 5, according to the document reviewed by HousingWire. Presented by: HCL America.

Banks 356
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FGMC owes Customers Bank $25M, bankruptcy filing shows

Housing Wire

Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30. million.

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Wells Fargo, other mortgage lenders under scrutiny for pricing exceptions: CNBC

Housing Wire

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. It is unclear whether Wells Fargo was accused of discrimination or sloppy oversight, the report noted.

Mortgages 423
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Wells Fargo discloses another layoff in Iowa

Housing Wire

The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division. “We regularly review and adjust staffing levels to align with market conditions and the needs of our businesses,” a spokesperson said. Presented by: HCL America. In the second quarter of 2021, the company posted $2.1

FHA loan 359
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Home equity products light up a dark housing market

Housing Wire

billion, according to a review of bond-rating and industry reports. billion, according to a review of bond-rating and industry reports. Between the summer of 2019 to date, there have been at least 26 securitization deals backed by home equity products valued in total at some $6.1 billion, according to offering documents.

Equity 396
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List of Failed Banks in the United States

Marco Santarelli

In this blog post, we will be reviewing the list of failed banks in the United States. It's never good news when we hear about a bank failure , and unfortunately, there have been quite a few in the United States over the years. Additionally, losses on investment securities can also contribute to a bank's failure.

Banks 139
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These mortgage lenders are making major job cuts as production plummets

Housing Wire

Freedom Mortgage , Prosperity Home Mortgages and the mortgage division of Citizens Bank issued pink slips in October and the two first weeks of November. Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . Rates averaged 2.98% this time last year. “As A massive job cut.

Mortgages 367