In the wake of the Bank of America/Countrywide merger, numerous media outlets are reporting this morning that JP Morgan Chase is the latest financial institution hunting for an acquisition. CNBC reported Friday morning that the investment bank has had what it characterized as “very preliminary” talks with Seattle-based Washington Mutual, who has been hit hard in recent months as the mortgage crisis has intensified. The report suggests that JP Morgan also may be interested in two other regional banks, SunTrust Banks Inc. and PNC Financial Services, saying that one of the three are likely to be acquired “sometime this year.” Industry sources suggested to HW that JP Morgan’s interest in WaMu may be tied to its strong retail presence in the Western states.
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While many homebuilders, such as D.R. Horton and Tri Pointe Homes, significantly reduced the number of new home starts over the last quarter amid sluggish homebuyer demand, Smith Douglas Homes Corp. is taking a different approach, akin to that of Lennar. Pace over price. The builder’s strategy reflects a commitment to affordability and serving the […]
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HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]