Mortgage Blog

Phoenix Sky Harbor International Airport received high ratings this week on its bonds from both Moody’s Investors Service and Standard and Poor’s Ratings Services.

The region’s main airport’s senior lien bonds were assigned an Aa3 rating from Moody’s. The bond credit rating business said Sky Harbor’s low costs to airlines and strong local demand for air service led to the rating. Moody’s also affirmed its previous ratings of Aa3 and A1 for the airport’s outstanding senior lien and…

JPMorgan Chase will build a fintech campus in Palo Alto that will eventually employ more than 1,000 employees. The bank said it also plans to consolidate its San Francisco offices into just two locations as part of the Palo Alto project.

Leon Holschbach will retire Dec. 31 as CEO of Midland States Bancorp Inc., and that role will be filled by Jeffrey Ludwig in addition to his posts as president of the company and CEO of its Midland States Bank subsidiary.

Holschbach will continue to serve as vice chairman of the boards of the holding company and Midland States Bank. The changes are the next step in a succession plan, officials said Friday.

Ludwig had been promoted in March to president of the company and CEO of Midland States…

E*Trade Financial Corp. (Nasdaq: ETFC) surpassed analyst estimates for earnings and revenue for its third-quarter financial results, according information released by the company after hours on Thursday.

The New York-based digital financial services and product provider also announced the launch of a new $1 billion share repurchase program.

Net revenue for the company was $720 million for the quarter ended Sept. 30, surpassing estimates of $711 million. That amount also was up 20 percent year over…

American Express Co. (NYSE: AXP) on Thursday posted financial results for its third quarter that surpassed estimates for both revenue and earnings.

The New York-based company cited increased consumer spending in noting the results, which were released following the close of markets.

AmEx posted total revenue for the quarter of $10.114 billion, up 9 percent from the same period last year and beating estimates of $10.05 billion. Earnings were reported as $1.88 per share, a 25 percent increase year…

Because the St. Louis banking market is so competitive and fragmented, branches can be a valuable tool to attract customers and deposits, local bankers say.

Regions Bank is expanding its loan production offices in the greater Chicago area.

According to the Alabama State Banking Department’s monthly report in September, the bank has submitted applications to open two mortgage loan production offices in Illinois – one in Orland Park and one in Schaumburg. Evelyn Mitchell, head of media relations and issues management at Regions, said this will expand the bank’s capacity to serve more current and potential homeowners in Illinois, as the bank already…

Arizona’s FinTech Sandbox is the first such regulatory sandbox in the United States, designed to help spur more financial technology startups.

Vienna-based Navy Federal Credit Union has a new CEO — its longtime exec and chief operating officer since July, Mary McDuffie.

McDuffie, who has worked at Navy Federal since 1999, replaces Cutler Dawson, who is retiring from Navy Federal after 14 years. She officially takes the helm Jan. 18 of what's by far the country's largest credit union. She will be the first woman in the CEO role for Navy Federal.

She's stepping into the role during a massive growth spurt for Navy Federal. It has seen…

The company closed the acquisition on Oct. 2.