Mortgage Blog

Bank says letter of credit for Cargill opens door for technology in $9tn market

Houston-based Cadence Bancorporation (NYSE: CADE) and Atlanta-based State Bank Financial Corp. (Nasdaq: STBZ) announced May 13 they will combine in an all-stock deal valued at $1.4 billion.

The deal is expected to close in the fourth quarter of 2018, according to a press release.

State Bank shareholders will receive 1.16 shares of Cadence Bancorporation Class A common stock for each share of State Bank common stock they own, per the release. Legacy Cadence shareholders will own 65 percent of the…

Entrepreneurs and corporate executives in the technology industry put an immeasurable amount of time and energy into building their businesses. They also take on a significant amount of financial risk because a majority of their net worth is represented by company equity, which often is illiquid and highly concentrated.

Raising capital, selling a company, taking a company public, executing a dividend recapitalization, or other so-called “liquidity events” are rare opportunities for technology…

Buffalo-area insurance agencies, which handle billions of dollars worth of premium volume each year, say a rebounding economy is improving business – and that means customers should reconsider if they're spending enough to meet their needs.

Nationstar Mortgage (NYSE: NSM) may be facing additional penalties for alleged violations of the Real Estate Settlement Act.

As reported by National Mortgage News, the parent company of Mr. Cooper said in filings with the U.S. Securities and Exchange Commission that action could be taken based on “alleged violations of the Real Estate Settlement Procedures Act, the Consumer Financial Protection Act and the Homeowners Protection Act.”

RESPA oversees costs and fees accrued by consumers in real…

Charlotte-based online lending company LendingTree Inc. (NASDAQ: TREE) announced Friday it will acquire Ovation Credit Services Inc., a credit-services provider based in Jacksonville, Fla.

The $20.75 million transaction involves $12 million in cash and contingent consideration payments up to $8.75 million. It is expected to close by the end of this quarter.

“Ovation Credit Services' experienced management team, strong credit bureau relationships and customized software platform will ultimately…

Pittsburgh-based coatings giant acknowledges financial reporting problems.

“I became the guy that was always there in the morning.”

The group is tackling a vexing problem for finance firms: How to make sure businesses on the other side of a digital transaction are who they say they are.

Varying opinions on bitcoin and other digital currencies continue to provide fodder for news organizations, including the New Your Business Journal.

This week, billionaire businessman Warren Buffett and Reddit founder Alexis Ohanian addressed the trend — and their opinions couldn't be more different. And they weren't the only ones debating the legitimacy of crypto coins, either.

Here's a look back at their statements along with some of the other top stories on the subject from this past week:

Sunday,…