New York apartment loans remain a costly problem for Flagstar Bank. The lender’s third-quarter earnings showed another reduction in its multifamily portfolio, but higher interest rates and rent-regulated buildings continued to drive credit expenses upward....
The U.S. Supreme Court has asked the Solicitor General to weigh in on three mortgage-escrow cases that have produced conflicting appellate rulings over whether federal law shields national banks from state requirements to pay interest on borrowers’ escrow balances....
Dallas-headquartered Mr. Cooper Group Inc. (NASDAQ: COOP) is acquiring the mortgage operations of Flagstar Bank for $1.4 billion. The acquisition encompasses Flagstar’s MSRs, advances, subservicing contracts, and a third-party origination platform. The purchase will...
10-Year Treasury Yield Ends Friday at 5% as Oil Shock Tests Mortgage Rate R…
