Losses from nonperforming real estate loans continue to eat away at the bottom lines of local banks, but increased mortgage activity - some of it driven by attempts to take advantage of rules on home appraisals -- has resulted in first-half profits for one local lender. A nearly fourfold increase ...
New regulations on third-party residential mortgage lenders prompted two local companies to join forces as Huron Valley Financial acquires First Financial Services in a transaction set to close at the end of August. Requirements that third-party originators use an appraisal management company to evaluated properties led to discussions between the ...