Content about Banking

September 18, 2014

The Home Depot confirmed late Thursday afternoon that the malware that breached its payment systems was now erased, and that the breach is now thought to have affected as many as 56 million cards.

“We apologize to our customers for the inconvenience and anxiety this has caused, and want to reassure them that they will not be liable for fraudulent charges,” said Frank Blake, chairman and CEO. “From the time this investigation began, our guiding principle has been to put our customers first, and we will continue to do so.”

June 27, 2014

Nothing about this business is the same as it was just a few years ago, and nothing has changed more than the shopper. Customers today think differently, their expectations are unique, and they are highly engaged in the shopping process.

April 23, 2014

Beazer Homes USA, Inc. has named Christopher Grumboski VP and treasurer. In his new role, he will be take charge of all treasury-related functions, including cash management, lender and land-banking relations and debt capital markets activities.

Additionally, Beazer's former treasurer, Ekaterina Schwallie, has been named VP national finance and strategic planning.

November 26, 2012

A survey of non-residential construction companies conducted by FMI, a management consulting and investment banking firm, found that executives see the economic strength of their own businesses falling in the fourth quarter of 2012 compared with the previous quarter. Reasons cited include a reduction in backlogs, the continued rise of material costs and lower productivity.

November 12, 2012

FMI, the Raleigh, N.C.-based provider of management consulting and investment banking to the engineering and construction industry, has forecast an 8% increase in construction activity for 2013. Robust growth in residential construction, as well as a few strong markets in nonresidential and non-building construction, will contribute to the expansion, the report said.

October 8, 2012

If he didn’t become CEO of Bank One in 2000, banking executive Jamie Dimon might have taken the top spot at Home Depot, according to a profile of Dimon in Vanity Fair. 

The Dimon profile in the current issue of Vanity Fair reports how the banking executive toured a store in Yonkers, N.Y., as negotiations between him and the retailer were getting serious. According to the article, the banker enjoyed the activity and the interaction throughout the store.

August 24, 2012

Too many contractors taking on too much low-bid work just to stay alive may soon result in a market shake-out, according to a report by FMI, a leading provider of management consulting and investment banking to the engineering and construction industry.

FMI’s third-quarter nonresidential construction report index has dropped 5 points, putting it back at second-quarter 2010 levels. On the rise is the number of contractors participating in self-funded projects as a financing partner with owner/developers, the report said.

July 30, 2012

Several cities in California’s Inland Empire, which was devastated by the housing bust, have decided not to wait around for relief from the feds or the banking industry. They are ready to invoke a rarely used power -- eminent domain -- to stop foreclosures in their communities and help struggling homeowners restructure their mortgages.

The banking and securities industry is not excited over the idea.

May 20, 2012

A May 16 report from the Mortgage Bankers Association added another bright note to the housing market, with the percentage of U.S. homeowners behind on their mortgages falling to the lowest level since 2008. The delinquency rate for residential mortgage loans decreased 7.4% during the first quarter of 2012.

Foreclosures are not improving at the same rate, however. The percentage of loans in the foreclosure process as of March 31, 2012 was 4.4%, relatively unchanged from the previous quarter and down one basis point from 4.5% a year ago.

May 18, 2012

A May 16 report from the Mortgage Bankers Association added another bright note to the housing market, with the percentage of U.S. homeowners behind on their mortgages falling to the lowest level since 2008. The delinquency rate for residential mortgage loans decreased 7.4% during the first quarter of 2012.

Foreclosures are not improving at the same rate, however. The percentage of loans in the foreclosure process as of March 31 was 4.4%, relatively unchanged from the previous quarter and down one basis point from 4.5% a year ago.

March 5, 2012

The National Association of Home Builders (NAHB) has announced a comprehensive reform plan for the housing finance system that would transition Fannie Mae and Freddie Mac to a new mortgage securitization system for single-family and multi-family conventional mortgages.

January 6, 2012

The Federal Reserve, in a Jan. 4 report sent to members of Congress who sit on banking committees, warned that mortgage lending standards are holding back the nation’s economy.  

The 26-page white paper was an unusual foray into the housing sector for an agency concerned primarily with monetary policy. But Federal Reserve Chairman Ben Bernanke stated: “Restoring the health of the housing market is a necessary part of a broader strategy for economic recovery.”  

November 8, 2011

The Home Builders Institute (HBI) has named John Courson, the former president and CEO of the Mortgage Bankers Association (MBA), as its new president and CEO. Courson is a nationally recognized housing industry spokesperson and government affairs expert who served as MBA's president and CEO from 2008 to 2011. His initial priorities at HBI will be to identify new revenue streams and create new programs for the non-profit organization.

September 15, 2011

The absence of housing initiatives was just one criticism we heard from readers regarding President Obama's $47 billion jobs plan:

August 25, 2011

Uncertainty in the market and difficulties of getting projects approved are putting the brakes on non-residential construction, according to a survey just released by FMI, a leading provider of management consulting and investment banking to the engineering and construction industry. 

August 23, 2011

Bad news for the housing market was delivered Aug. 22 by the Mortgage Bankers Association, which reported that the percentage of homeowners who have missed at least one mortgage payment on their homes has risen for the second straight quarter. 

June 30, 2011

On customer safety


June 27, 2011

An analysis published by the Wall Street Journal showed that the nation’s 10 largest mortgage lenders denied 26.8% of loan applications in 2010, an increase from 23.5% in 2009. 

June 27, 2011

An analysis published by the Wall Street Journal showed that the nation’s 10 largest mortgage lenders denied 26.8% of loan applications in 2010, an increase from 23.5% in 2009. 

June 7, 2011

A study released today by CoreLogic, a real estate data and analysis firm, indicates that 38% of homeowners who took out home equity loans on their houses were “underwater” at the end of the first quarter of 2011, compared with 18% of borrowers with no home equity loans. More than 40% (4.5 million) of all negative equity borrowers have home equity loans.

March 30, 2011

Canadian economists have expressed concerns about a correction in the housing market north of the U.S. border, where record borrowing, low interest rates and eager home buyers have created a building boom over the last several years.

October 24, 2010

According to the National Association of Realtors, the 10% increase in existing-home sales for September...

November 2, 2008

The diverse nature of the seven home improvement research presentations delivered rapid fire during a...

September 25, 2008

Sales in August reflected higher interest rates, which have lowered following the government takeover of...

June 15, 2008

A valued brand can be leveraged in good times and bad, which is exactly what...