Allissa Kline
NationalMortgageNews
Buffalo, NY, United States
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Past articles by Allissa:
New York Community quickly downsizes its newly bought mortgage unit
The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion. → Read More
Banks, credit unions at various stages of recovery from Ian
Financial institutions of all sizes — from JPMorgan Chase to SouthState to Fairwinds Credit Union — have reopened many branches, rolled out mobile banking units as well as reemployed pandemic-era digital and loan-forgiveness strategies in parts of Florida and South Carolina devastated by the powerful hurricane. → Read More
First Republic lures its next finance chief from MUFG Union
Neal Holland, who has been serving as MUFG Union Bank's chief financial officer, will assume the same role at First Republic. It is the latest in a series of recent changes in the San Francisco bank's leadership ranks. → Read More
Fitch downgrades PacWest, citing 'deterioration' of key capital ratio
The rating agency has revised the long-term issuer default rating for PacWest Bancorp and its banking subsidiary, Pacific Western Bank, from "BBB" to "BBB-" and says it doesn't expect the bank's common equity Tier 1 ratio to bounce back anytime soon. → Read More
Truist’s Daryl Bible to retire, search begins for new CFO
Bible, who has served as chief financial officer since the merger of BB&T and SunTrust, will stay on the job until a successor is found. → Read More
Citi names internal candidate as its next chief compliance officer
Tom Anderson currently serves in a compliance role overseeing personal banking and wealth management at Citi. He will succeed Mary McNiff, who is moving into a new position at the $2.4 trillion-asset bank. → Read More
JPMorgan hires diversity chief from Wells Fargo
David Miree will become global head of diversity, equity and inclusion for the New York megabank. He will succeed Brian Lamb, who will move into a new role in the firm’s commercial banking business. → Read More
How eight banks are weighing the fallout from the Ukraine war
The industry is contending with trading volatility, the economic effects of soaring energy prices and the risk of prolonged high inflation following Russia’s Feb. 24 invasion. Citigroup, TD and Comerica are among the banks that have commented on how their businesses may be affected. → Read More
Peoples in Ohio beefs up equipment financing with $54 million deal
The announced acquisition of Vantage Financial in Minnesota comes less than a year after Peoples Bank purchased North Star Leasing in Vermont. → Read More
Cannabis lender Safe Harbor Financial agrees to be sold to SPAC
Northern Lights Acquisition, a special-purpose acquisition company, is paying $185 million in cash and stock to purchase Safe Harbor from Partner Colorado Credit Union, which launched the lending unit last year. → Read More
New York Community posts best quarterly loan growth in 15 years
Multifamily and specialty finance loans, which were highlights during the fourth quarter, should increase further in 2022, company executives said. → Read More
The demise of branches is overstated, big-bank executives say
Even as the pandemic has hastened adoption of digital banking, industry officials say branches remain vital points of contact with consumers. → Read More
BMO Financial names wealth management chief
Deland Kamanga, the company's head of global markets, has been tapped to lead a unit with operations in both Canada and the U.S. → Read More
New York Community says Flagstar deal won’t close until 2022
The deal for Michigan-based Flagstar Bancorp, announced in April, was originally expected to be completed by the end of the year. The New York bank’s CEO expressed optimism that it will still get regulatory approval. → Read More
What's on the minds of big-bank CEOs
During third-quarter earnings calls, Bill Demchak of PNC raised concerns about stablecoins, while Jane Fraser of Citigroup pledged that there will be accountability for fixing her company's regulatory troubles and Jamie Dimon of JPMorgan Chase sounded downbeat about the Biden-era regulatory environment. → Read More
M&T, awaiting Fed’s approval of merger, unveils reinvestment plan
The upstate New York company, which has agreed to acquire People’s United Financial in Connecticut, is the latest bank to negotiate a multibillion-dollar spending commitment with the National Community Reinvestment Coalition. → Read More
Citigroup agrees to audit of investments in minority communities
The third-party investigation will assess the bank’s progress on a pledge to spend at least $1 billion providing mortgages, small-business loans and other banking services in underserved neighborhoods. → Read More
KeyCorp's emphasis on fee businesses paying off
Investment banking fees helped propel the Cleveland bank's noninterest income, which has been a focus for the last decade and continues to rise as a percentage of total revenue. → Read More
Old National CEO: ‘Hard to tell’ if redlining suit will delay merger
The Indiana company told investors that it’s ready to complete its combination with First Midwest Bancorp but that it’s unclear whether a recently filed mortgage discrimination lawsuit will get in the way of Fed approval. → Read More
Truist nears finish line on merger integration
The company created through the combination of BB&T and SunTrust Banks expects to hit two final milestones in the first quarter of 2022. The bank is now turning its focus to performance, CEO Bill Rogers said. → Read More