-
Financial stocks rose Tuesday after federal housing regulators said they were revising guidelines that could reduce lenders' risks of having to buy back soured mortgages that have been securitized.
June 19 -
The Federal Reserve Board has approved FirstMerit's pending acquisition of Citizens Republic Bancorp (CRBC) in Flint, Mich.
March 25
Walter Investment Management in Tampa, Fla., said its second-quarter loss widened, as it recorded a goodwill impairment charge in its reverse mortgage division.
The company reported a
Revenue fell 0.3% to $412.4 million, on lower interest income on loans, and lower net fair value gains on reverse loans and related obligations.
Total expenses fell 8.4% to $428 million on lower salaries and employee benefits, interest expense and goodwill impairment.
Revenue at Walter's originations segment fell 14% to $128.7 million, on a decline in net gains on sales of loans.
The reverse mortgage segment's revenue fell 48% to $20.2 million, on lower net fair value gains on reverse mortgages.