Daily Mortgage News

This section of Home Buying Institute will help you keep informed about the mortgage industry, mortgage loans and related news. Being well-informed is the first step to making good financial decisions.



MortgageDaily.com - Mortgage News Headlines
Mortgage Industry News for the Mortgage Industry

Banks Cut Over 2,000 Jobs
U.S. Bank plans to layoff more than 1,000 employees in Southern California during the second half of 2009, according to an analysis by MortgageDaily.com of Worker Adjustment and Retraining Notification filings. JPMorgan Chase & Co. and its subsidiaries laid off more than 400 California employees during the third quarter. Nearly 600 more California layoffs are planned by Chase during the fourth quarter.
Cost of Friday's Failures: $1.5 Billion
The Federal Deposit Insurance Corporation announced the closing of five federally insured banks on Friday. One of those failures, United Commercial Bank, is expected to cost the Deposit Insurance Fund $1.4 billion. The other four failures are expected to add up to $132 million in costs.
FDIC Maintains Fast Pace of Regulatory Orders
The Federal Deposit Insurance Corporation reported that it processed 48 enforcement actions and matters during September. The agency processed the same number during August. September's activity included 26 cease-and-desist orders.
Mortgage Leads and More
Eight of LendingTree's best customers were recognized for outstanding achievement during the Charlotte, N.C.-based firm's 10th Annual Partner Summit. Former LendingTree executive Keith Moore was hired as chief marketing officer of iContact, a news release indicated. Leads360 recently reported that a division of Jones International Ltd. became its 4,000th client.
Office, Industrial Originations Up
Commercial mortgage production for loans secured by office properties jumped by nearly two thirds from the second quarter in the Mortgage Bankers Association's third-quarter origination survey. Industrial origination activity expanded by nearly half during the same period. However, overall commercial loan fundings declined.

Newsfeed display by CaRP