Caliber Home Loans fires mortgage exec after Fed banned banker from industry

On Tuesday, the Federal Reserve Board banned Daniel Brennan, a former executive at Regions Bank, from the banking industry for allegedly paying one Regions’ loan processors to approve mortgages that did not meet Regions’ lending standards. As HousingWire reported Tuesday, Brennan’s employment at Regions ended in 2016, but HousingWire can now confirm that Brennan continued to work in the mortgage business, albeit for a different company, until news of his Fed banishment broke on Tuesday. …read more

From:: Real Estate Wire

Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

From:: Stock Market News

Leave a Reply Cancel reply