Sales Director, MLO, Branch Jobs; Servicing, Sales, Jumbo Products; URLA and 4506-C News Jan 29 2021, 8:12AM
One should never stop learning. For example, I just began reading a great book: “How to Cook Crack and Clean a Crab.” Step One: Use commas. I learned that the Bill & Melinda Gates team is the largest farmland owner in the United States. Last year’s overall net farm income is projected to rise 43 percent to $119.6 billion, according to the Department of Agriculture, despite last year’s farm cash receipts being down 1 percent to $366.5 billion. But at the same timedirect federal aid accounted for literally 40 percent of total farm income after more than doubling over 2019 levels. Producers made $46.5 billion from the government, with direct federal aid up 107 percent from 2019. Plenty of lenders have learned about and utilize the USDA Rural Housing program, not to be confused with learning about the URLA (1003) changes ahead. More on the new
DBusiness Magazine
Karen Buck // Photo courtesy of Flagstar Bank
Karen Buck has joined Flagstar Bank in Troy as executive vice president and head of operations. In this role, she is responsible for the customer engagement center, retail and commercial operations, banking operations, and business risk and internal controls.
Buck has more than 30 years of experience in the financial services industry, most recently as executive vice president of commercial, retail, and payment operations at TD Bank in New Jersey. She led a team of more than 2,200 employees across the bank’s commercial and retail segments.
“She is a true professional and a standout in her field. We’re fortunate to have her in this important position to support the future growth of our retail and commercial businesses,” says Alessandro DiNello, president and CEO of Flagstar.
DBusiness Magazine
Toan Huynh // Photo courtesy of Flagstar Bancorp
Flagstar Bancorp, headquartered in Troy, announced the appointment of Toan Huynh and Lori Jordan to its board of directors, keeping a promise made in July to further diversify its board by adding women of color. Both will also serve on the board of Flagstar Bank, the wholly owned subsidiary of the corporation.
Huynh is an independent director of Bankers Financial Corp. with more than 20 years of experience in various industries designing and implementing digital transformation programs. Jordan is currently with Amazon.com Inc., where she is strategic product leader for the Amazon Flex Last Mile and Last Mile organizations.
Innovative Modular Solutions Announces Its Acquisition by VESTA Modular
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OSWEGO, Ill., Jan. 21, 2021 /PRNewswire/ Innovative Modular Solutions ( IMS ) today announced its acquisition by VESTA Modular in a transaction completed on Jan. 19, 2021. Financial terms of the transaction were not disclosed.
Established in 1999, Innovative Modular Solutions has been dedicated to building high-quality modular buildings, including modular classrooms, modular offices and other commercial modular environments. IMS focused on providing customers with consistent, professional service. As a result, IMS has become one of the leading providers of modular buildings for temporary or permanent space throughout the Continental United States.
Key Highlights - Fourth Quarter 2020
Net interest income grew by $9 million with lower deposit costs and higher warehouse balances.
Mortgage revenue was $232 million as fallout adjusted lock volume and gain on sale margins stayed strong.
Asset quality remained solid with low levels of nonperforming loans and an industry-leading coverage ratio.
Tangible book value per share reached $38.80 at year-end, representing a 36 percent increase for 2020.
Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, today reported fourth quarter 2020 net income of $154 million, or $2.83 per diluted share, compared to third quarter 2020 net income of $222 million, or $3.88 per diluted share and fourth quarter 2019 net income of $58 million, or $1.00 per diluted share.