Mortgage Blog

Wells Fargo & Co. will be subject to a record fine as high as $1 billion for auto insurance and mortgage lending abuses, according to a report from Reuters.

Citing what it says are three sources familiar with this situation, the news service said Mick Mulvaney, whom President Donald Trump picked in November to head the Consumer Financial Protection Bureau (CFPB) on an interim basis, is eying a penalty that would dwarf the agency’s previous record $142 million fine levied in response to the 2016…

There were almost 100 total branches of Memphis-based community banks in 2017. And, there were $6.2 billion total deposits at those community banks.

MBJ's community banks list ranks each by total deposits as of Dec. 31, 2017, and it includes total assets, local branches, total branches, number of employees, holding company and top local executive.

Click the slideshow to see Memphis' largest community banks.

The full list of 21 banks, published in MBJ's April 6 edition, is available to subscribers…

At 31 years old, he's the bank's youngest market president.

When Christel Ventura wanted to build a pool in her backyard, she chose to take out a home equity line of credit (HELOC) to help cover the costs. As the assistant vice president of consumer lending for GTE Financial in Tampa, Ventura was well aware of the differences between home equity loans and HELOCs, as well as the special introductory interest rate GTE was offering on its HELOCs.

“When I did the line of credit, it was interest-only and a 1.99 percent interest rate for the first 12 months,”…

The panel discussion was hosted by the Arizona chapter of the Association for Corporate Growth, the global community for middle-market M&A deal makers and business leaders focused on driving growth.

A financial holding company from Texas will soon take over the parent company of Bank of New Mexico.

Triumph Bancorp Inc., headquartered in Dallas, is paying about $134.5 million for the acquisition of First Bancorp of Durango Inc., parent company to Bank of New Mexico. Triumph's subsidiary, TBK Bank, has 53 branches in Texas, Colorado, Kansas, Iowa and Illinois.

First Bancorp of Durango, which holds around $646 million in total assets, according to the release, owns the First National Bank of…

Two payday-lending groups are suing the Consumer Financial Protection Bureau to stop implementation of an Obama-era rule they argue would devastate their business model.

The Wall Street Journal reports that the Community Financial Services Association of America and the Consumer Service Alliance of Texas filed suit against the CFPB in federal court in Texas.

At issue is a rule that would require payday lenders to verify that borrowers can afford debt before approving financing; it also would put…

The more than 1,500 local finance and investment professionals of the Atlanta Society of Finance and Investment Professionals (ASFIP) agree that for any individual or family to be successful, they need a basic understanding of budgeting, banking and credit transactions, and saving and investments.

The need to improve financial literacy in the Atlanta metropolitan area is a learning objective that crosses generations and demographic groups, and the ASFIP is stepping forward to lead the conversation…

Venture investors made bigger bets on a smaller number of startups in the Bay Area again in the first quarter.

The $11.9 billion invested in the first three months of 2018 in the region was the second highest amount in more than a decade, according to a report from PitchBook Data and the National Venture Capital Association. But the number of deals in the region dropped to 404, the lowest level since 2010.

That's a 62 percent increase in funding, compared to last year's first quarter, despite a…

It’s not enough for investment bankers, attorneys and accountants working on mergers and acquisitions to know the financial and legal implications of pending deals.