Banks

Unlicensed mortgage brokers get the boot

With interest rates and house prices at historic lows, it is the perfect time to buy a home.

But before a purchase is made, a bank loan officer or a mortgage broker has to approve a home loan for the buyer.

Banks say fewer consumer loans are going bad

NEW YORK — Americans are starting to get their household finances in order.

In an encouraging round of earnings reports, major banks say fewer mortgages are going bad, credit card defaults are down and more people are paying the bills on time.

Banks repossess 1 million homes in 2010

NEW YORK  -- The bleakest year in foreclosure crisis has only just begun.

Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.

Goldenwest declares bonus dividends

OGDEN -- For the seventh consecutive year, the board of directors for Goldenwest Credit Union has declared a bonus dividend on shares for their membership. The credit union paid a 5.30 percent annual percentage yield for December.

Free checking endangered at banks

WICHITA, Kan. -- The pressures are too much.

Layton bank donates to FCC

LAYTON — First National Bank of Layton has donated $1,000 to the Family Connection Center.

Fed IDs companies that used crisis aid programs

WASHINGTON -- The Federal Reserve revealed details Wednesday of more than $3 trillion in emergency aid it provided to U.S. and foreign banks during the financial crisis.

Newly released documents show that the most loan money over time went to Citigroup ($2.2 trillion), followed by Merrill Lynch ($2.1 trillion), Morgan Stanley ($2 trillion), Bank of America ($1.1 trillion), Bear Stearns ($960 billion), Goldman Sachs ($620 billion), JPMorgan Chase ($260 billion) and Wells Fargo ($150 billion). Many of the individual loans they took were worth billions and had short durations but were paid back and renewed many times.

New Bank of Utah vice president

OGDEN — Taft G. Meyer is the Bank of Utah’s new executive vice president and chief lending officer. He replaces Ronald A. Schulthies, who retired after eight years.

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