The bank acquired these business purpose non-qualified mortgage loans originated by Civic Financial Services in the PacWest Bancorp deal.

The U.S. 30-year yield reached the highest level in a month on Monday amid predictions that a Trump presidency would lead to higher inflation.

The push for assurances on collateral is coming despite fierce competition for deals, and indicates borrowers face limits on their ability to change the standing of existing creditors to get the financing they need. 

Household borrowing from mortgages and other loans hit a record, outpacing inflation, a study shows.

The booming loan and CLO markets could face hurdles unless merger & acquisition activity picks up.

There were 27 bank acquisitions worth $5.45 billion announced in the second quarter as of mid-June. That was more than the $5.2 billion combined value of deals announced over the previous five quarters.

The suggested order would require Freedom Mortgage to pay $3.95 million to settle allegations that it botched its reporting of customer data to the watchdog.

The partnership between personal finance platform Esusu and the National Rental Home Council has several of the trade group's members delivering payment data. They say that has helped result in over 85,000 originations across lending segments.

The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.

Atlanta Postal Credit Union's bid to acquire Affinity Bank marked the 11th deal overall this year involving a credit union buying a bank, matching the total for all of 2023. Separately, members voted against the merger of two credit unions in Indiana.

SouthState Corp. plans to purchase Independent Bank Group in a $2 billion deal, marking an end to the latter bank's long run of buying companies. Chairman and CEO David Brooks pointed to a challenging interest rate environment and heightened regulatory scrutiny as reasons he decided to sell.

West Coast Community Bancorp agreed to acquire 1st Capital Bancorp in an all-stock deal slated to close in the fourth quarter.

Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.

In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.

The company's branches and loan officers will transition to ML Mortgage but operations staff are not part of the deal.

House Republicans held a subcommittee hearing on reforming bank merger M&A, laying the groundwork to counter Biden administration efforts to make it more difficult for mergers to be approved.

Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.

Consolidation has slowed since the pandemic, but UMB's agreement to buy Heartland Financial — the largest deal in three years — is one of several merger announcements in the past two weeks. Talks among other potential buyers and sellers are said to be picking up.

The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.

The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.