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...Increasingly, however, banks are doing low- or no-premium mergers of equals, on the model of the $28bn BB&T-SunTrust deal of 2019, which created Truist....
...In mortgages, traditionally a paperwork-heavy activity, digital sales have accounted for 60 per cent of 2020’s activity....
...Nine months earlier, BB&T snapped up SunTrust Banks for roughly $28bn, making it the biggest US bank deal since the financial crisis. The pressure on regional banks to consolidate is real....
...Regional US banks — including Fifth Third of Cincinnati and Atlanta’s SunTrust — now account for 17 per cent of all new commercial mortgages, up from 11 per cent in 2013, according to data from Bank of America...
...And Goldman: [S]maller commercial banks stand to benefit most from TFSME, as the scheme lowers their average cost of funding and gives them the ability to compete in lower margin segments such as mortgages...
...DD readers will remember that BB&T and SunTrust sealed their $66bn merger with a very awkward fist bump....
...The latest episode of Behind the Money dives into the implications of the $66bn merger of BB&T and SunTrust banks. Listen on Spotify, Apple Podcasts, Stitcher or FT.com....
...Other sessions take in investment options, estate planning and mortgages....
...The company funds much of its lending through a line of credit supplied by a dozen banks led by Wells Fargo, and including Morgan Stanley, Barclays, UBS, JPMorgan and SunTrust....
...half of this year by about 3 per cent at M&T Bank, and 2 per cent at BB&T and SunTrust....
...JPMorgan Chase, Ocwen Financial and SunTrust Bank have agreed in subsequent civil settlements to provide an additional $9.3bn in relief to homeowners....
...Regional lender SunTrust Banks was off 0.5 per cent to $33.51 on news that it had agreed to a more than $1bn settlement with federal agencies over allegations of mishandling government-backed mortgages....
...For example, Crisp’s wife, Jennifer, pleaded guilty to obtaining a $1.3m mortgage in 2006 from SunTrust, an Atlanta bank, by falsely stating she had been working for her father’s accounting firm....
...William Rogers, chief executive of SunTrust Banks, another large regional lender, told investors last week that the bank was in “an aggressive but cordial dialogue” with Fannie and Freddie....
...Ryder System , the transportation company, rallied 6 per cent to $41.56 after it was upgraded by analysts at SunTrust from a ‘neutral’ to a ‘buy’ rating with a price target of $48.00....
...Banks including SunTrust and US Bancorp have said they are increasing so-called asset-based lending, in which credit is extended to businesses against collateral, while Regions Financial has established...
...SunTrust – no word of major assumptions, but this table: PNC – went to town on various interest rate moves, but again, no deposit betas or deposit flow information: M&T Bank – table in absolute numbers...
...SunTrust set aside $215m for mortgage repurchases, an increase from $117m in the third quarter....
...BofA has been shrinking its assets as it seeks to bolster its capital ratios and overcome a hangover of mortgage-related losses and litigation....
...Here’s an overview of the allegations, from the article: In exchange for the their business, companies such as Citigroup Inc, Wells Fargo & Co, SunTrust Banks Inc. and Countrywide allegedly required reinsurance...
...SunTrust was up 5.4 per cent to $19.66, and Regions Financial climbed 4.2 per cent to $4.52, while some investment banks, which do not originate mortgage loans, sat out the rally....
...It might also have helped large mortgage lenders outperform – SunTrust was up 11.6 per cent to $19.75 and Hudson City Bank , a New Jersey-based mortgage lender, rose 9.3 per cent to $6.83....
...SunTrust Banks lost 2.8 per cent to $28.19 while JPMorgan Chase fell 2.8 per cent to $44.97....
...Bank Home Mortgage, SunTrust Mortgage and Quicken Loans are among the banks that have lobbied for a broad interpretation of risk retention requirements that would include down payments of less than 20 per...
...The S&P regional banks index was up 2.5 per cent to 54.25 led by SunTrust Bank, which added 5.9 per cent to $29.50 after posting strong results....
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