Mortgage Blog

A federal judge approved the proposed $4.7 million settlement of a class-action lawsuit by participants in the SunTrust Banks Inc. 401(k) Savings Plan claiming the Atlanta-based bank violated provisions of the Employee Retirement Income Security Act.

U.S. District Judge Richard W. Story entered the final approval order following a fairness hearing in U.S. District Court for the Northern District of Georgia on June 28.

The plan is a defined contribution retirement plan sponsored by SunTrust to…

It's all about further boosting United Bank's market share, said CEO Richard Adams.

Dwight Erdbruegger has been named president of Cass Commercial Bank.

Erdbruegger succeeds Robert Mathias, who has been president of the bank since 2008 and will serve as vice chairman of the board.

Prior to the appointment, Erdbruegger was chairman of CBIEF, the equipment finance subsidiary of Commerce Bank. He has more than 30 years of experience in the banking industry, according to a release.

Erdbruegger received a B.S. in industrial engineering from Purdue University and an MBA from Southern…

Is this part of an ETF pricing war? Dropping the fees could help Vanguard attract new brokerage clients and then generate more revenue from them through other services.

Household debt is set to surpass levels not seen since its prior peak a decade ago.

Lending Tree predicts that total consumer debt will exceed $4 trillion by the end of 2018.

The culprit is not mortgages, but student loans, according to a Lending Tree.

LendingTree's analysis of data from the Federal Reserve found that mortgage-related household debt has fallen by 5.5 percent while total consumer credit – revolving credit and installment loans – has increased by 45 percent since the third quarter…

There is nothing wrong about asking for trade references on a business that is requesting credit from you. Large companies already have prepared a company credit app for suppliers.

Coming from a small business that offered credit terms to customers, I know the uncomfortable feeling when it comes to asking for a company credit application from a prospective client. I still remember the awkward look I would get as if “How dare you ask about our credit?”

As simple as this task may sound and not…

Florida Property & Casualty Association, an association of Florida-based home insurers, is disputing claims made by Weiss Ratings, including that, “Many Florida homeowners are still waiting for their insurance claims to come through after a severe hurricane season last year.”

The claim was made by Gavin Magor, Weiss Ratings Director of Research, in a press release sent out June 14.

“If the 2018 hurricane season is similar or worse, it could compound the problem, raising questions about the ability…

More people are participating in 401(k) plans and the average amount their putting in is increasing, according to a new report by mutual fund giant T. Rowe Price Group Inc.

The average amount people saved from each paycheck — known as the employee pretax deferral rate — reached 8.3 percent in 2017, the highest in the 10 years Baltimore-based T. Rowe Price has been reporting participant data. For the first time, retirement plans with a 6 percent default deferral rate surpassed the number of…

McLean-based Gannett Co. Inc. has closed on its $130 million acquisition of WordStream Inc., a provider of cloud-based services that help businesses and agencies manage and improve their paid search and advertising campaigns.

The deal, first announced in May, includes $130 million in cash, plus up to $20 million payable in 2019 and 2020 based on meeting certain revenue targets. Gannett (NYSE: GCI) anticipates WordStream, a Boston company founded in 2007, will help it bulk up its own digital marketing…

BB&T Insurance Holdings, a subsidiary of North Carolina-based BB&T Corp. (NYSE: BBT), says it has finished its acquisition of Regions Insurance Group from Regions Financial Corp. (NYSE: RF).

Terms were not disclosed.

BB&T Insurance Services is the fifth-largest insurance broker in the United States, operating more than 200 offices through its various subsidiaries. Regions Insurance serves more than 60,000 clients across the Southeast, Texas and Indiana.

RBC Capital Markets served as financial…