Michigan bank expands mortgage operations with asset purchase

University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.
Source: American Banker

Sens. Warren, Brown call on regulators to oust Wells Fargo CEO Sloan

The Democrats are asking the OCC and the CFPB to use their authority to remove Tim Sloan, who became CEO in 2016.
Source: American Banker

Pennsylvania says big banks fixed GSE bond prices

In the second lawsuit of its kind, more than a dozen of the world’s largest banks are accused of price fixing on roughly $486 billion of bonds issued by Fannie Mae and Freddie Mac.
Source: American Banker

Credit union executive calls out sexist behavior at CUNA conference

In a post to a social networking site, Rachel Pross, chief risk officer at an Oregon institution, described unwanted touches and inappropriate comments by male executives and directors at the event.
Source: American Banker

There are too many big houses on the market, and it's a problem

There are scores of huge homes across the Southern U.S. that are simply sitting on the market, and sellers are settling for massive price cuts in order to move on with their lives. What gives? Blame the Boomers. Hordes of retirees with easy access to credit built their late-in-life dream homes across the Sunbelt in the early 2000s, only to discover that these huge, high-maintenance abodes didn’t exactly make for ideal living in their Golden Years.
Source: HousingWire Magazine

Payday lenders get unexpected reprieve from CFPB rule

The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well.
Source: American Banker

LoanCare appoints new chief information officer

LoanCare, a ServiceLink company, recently announced Sudhir Nair joined the company as its executive vice president and chief information officer. LoanCare President Dave Worrall said given Nair’s expertise, the company is confident that he will help take the business to the next level.
Source: HousingWire Magazine

Marketer Intel: Jim Anderson at Stearns Lending on margin compression, M&A and what's next

We recruited 10 marketing leaders from some of the top lenders in the industry to serve on the advisory board for our engage.marketing summit and now we’re interviewing each one to find out more about their perspective on the industry and what they see coming in the future. First up is Jim Stearns, CMO at Stearns Lending, who tells us the biggest challenge facing mortgage marketers.
Source: HousingWire Magazine

Comment on Time to Update Your Business Toolkit by Sarah Smith

It’s really interesting that there are so many ways to update a home inspector’s business. I would have thought all you need is to be certified. It makes me wonder if there is an online training course available for these different business strategies.

Source: Working RE Magazine

Yardi reports rent growth steadily increasing

Average multifamily rents increased $2 in February to $1,426, according to the latest Yardi Matrix national multifamily report. The report noted that demand for rentals isn’t showing any signs of slowing down, bolstered by low unemployment and growing wage growth. 
Source: HousingWire Magazine