Mortgage Blog
Despite strong 2Q numbers, Wall Street wary of big banks
The sector fell dropped by as much as 1.4 percent during morning trading, worst among the 11 sectors in the S&P 500, which has a healthy day.
BMO Harris Bank sells 9 Wisconsin branches in sale-leaseback transaction
BMO Harris Bank has sold nine Wisconsin branches in a sales-leaseback transaction worth a total of $11.28 million.
The Chicago-based company sold the nine branches to an LLC affiliated with San Diego-based Realty Income Corp., according to state real estate records. Branches in Milwaukee, Racine and Port Washington were part of the sale.
The real estate deals are part of BMO's sale-leaseback initiative to take advantage of an attractive real estate market, said spokesman Patrick O'Herlihy. Under…
Amrock pushes back on $706M jury award in San Antonio
Attorneys for Detroit-based Amrock Inc. have asked a judge to dismiss a $706 million jury verdict rendered against the company in March following a trial over intellectual property between it and House Canary Inc., a San Francisco-based startup with a San Antonio office.
Veronica Lewis, a lawyer with Los Angeles-based Gibson Dunn & Crutcher LLP, argued in a court filing this week that jurors were misled and that their verdict “has no grounding in reality.” She said Amrock — a title insurance,…
How does Denver rank when it comes to paying bank fees?
When it comes to fees charged by Denver banking institutions, it turns out they're not so high when compared with the rest of the country.
In a ranking of the 50 largest metro areas in the U.S. by DepositAccounts.com, a subsidiary of LendingTree (Nasdaq: TREE), Denver ranked No. 39 in the country.
According to DepositAccounts.com, Denver residents pay an average ATM fee of $2.13. That compares with Philadelphia, highest in the country at $2.58, and Oklahoma City at the lowest at $1.31.
Denver…
Whistleblower gets record $30M for exposing JPMorgan scam
The Commodity Futures Trading Commission (CFTC) has approved a record $30 million whistle-blower award to a financial investigator for his role in exposing a scam at JPMorgan Chase.
The agency paid Edward Siedle, a Florida attorney, for filing the original whistleblower complaint in 2011 against the New York-based banking giant (NYSE: JPM). The award was the result of information that helped the CFTC sanction JPMorgan Chase for failing to properly inform some wealthy clients about conflicts of interest.
The…
KC is home to one of the nation’s 50 fastest-growing wealth advisers
There is one wealth adviser from the Kansas City area on Financial Advisor magazine's list of the 50 fastest-growing registered investment advisory firms in the nation [PDF].
Creative Planning, which recently completed its move from Leawood to a new headquarters in Overland Park, is ranked No. 41. The firm had $32.02 billion in assets as of Dec. 31, up 44.01 percent from the previous year.
According to a separate ranking in the magazine [PDF], those assets make it the fifth-biggest registered investment…
Two Alabama banks to join forces
Two Alabama banks are set to join forces by the fourth quarter of this year.
Prattville-based River Financial Corp, parent of River Bank & Trust, will acquire Clanton-based PSB Bancshares Inc., parent of Peoples Southern Bank.
As part of the deal, PSB Bancshares will operate as River Bank & Trust. Financial terms of the deal were not disclosed.
This transaction, which will result in a combined institution of more than $1 billion in total assets, is the first merger involving two Alabama banks…
Dallas’ venture investing took a hit in the spring, report says
It was a tough spring for Dallas-area startups.
The region saw a 22 percent decline in venture capital investments during the second quarter compared to the first quarter, according to research by Crunchbase News. Crunchbase tracks and provides data on startups.
Local volume managed to be more steady, slipping to 20 transactions from 21 in Q1.
Dallas followed an overall statewide trend of declines, according to the report. Texas saw invested dollars drop 17 percent to $506.2 million, and its…
San Antonio’s venture capital pipeline flow picks up in second quarter
San Antonio-based startups closed a handful of funding deals during this year's second quarter, according to a report compiled by accounting giant PricewaterhouseCoopers LLP and CBInsights, which tracks venture capital activity across the country.
Known as MoneyTree, the report breaks down data across metro areas. In San Antonio, it cited three deals, though not all the financial details were disclosed. Unlike last year, when the PwC report didn't identify any tech deals during the second quarter…
Envision receives gift from Intrust Bank for new downtown workforce center
Envision Inc.'s new workforce center is getting another boost.
Intrust Bank is donating $150,000 in support of the William L. Hudson BVI Workforce Innovation Center, which was launched earlier this year, according to a news release. The center is located on the fifth floor of Envision's downtown headquarters building.
The center was created to train people who are blind or visually impaired, and later help place them into skilled positions and provide accessibility inclusion expertise to businesses…