Items Tagged with 'First Horizon National Corp.'

ARTICLES

  • First Tennessee Bank reaches $1.9 million settlement over discriminatory lending

    Accused of Fair Housing Act violations
    For the second time in just over six months, First Tennessee Bank, the regional bank for First Horizon National, is settling with the federal government over allegations that it violated U.S. lending laws. In June 2015, First Tennessee agreed to pay $212.5 million to resolve allegations that it violated the False Claims Act. HUD announced Monday that it reached a settlement with First Tennessee over allegations that the bank violated the Fair Housing Act.
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  • First Horizon Continues Mortgage Pullback

    Memphis-based First Horizon National Corp. [stock FHN][/stock], the bank holding company for First Tennesse Bank, said Wednesday morning that it bank had sold mortgage servicing rights on $14 billion of first-lien mortgage loans owned or securitized by Fannie Mae [stock FNM][/stock] or Freddie Mac [stock FRE][/stock]. The move comes as First Horizon has aggressively been pulling back its national mortgage footprint amid continued industry upheaval.
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  • First Horizon Earnings Still Reeling from Mortgage Portfolio

    First Horizon National Corp. [stock FHN][/stock] on Friday reported a $55.7 million net loss -- 27 cents per share -- for the fourth quarter 2008, less than half the loss reported the previous quarter. After reporting heavy losses in mid- and late-2008 and receiving a $866,540,000 injection from the TARP as a transaction under the Capital Purchase Program on Nov. 14, 2008, the company's balance sheet appears to be stabilizing somewhat.
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  • Fitch Affirms MetLife's Mortgage Servicer Ratings

    A servicer many may not yet have heard of was affirmed by Fitch Ratings yesterday, and provides a chance to underscore the dramatic shifts taking place in the servicing industry as the banking landscape is being re-organized by a historic financial crisis. In a statement released late Monday, Fitch said it had affirmed its primary residential servicer ratings on MetLife Home Loans, a division of MetLife Bank, NA.
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  • First Horizon Posts $113.8 Million Net Loss For Q3

    (Update 1 shows mortgage information from First Horizon's earnings statement) First Horizon National Corp. [stock FHN][/stock] reported massive losses in the third quarter 2008 after the complete sale of of mortgage operations outside Tennessee and mortgage banking servicing operations including $19.1 billion billion of servicing to MetLife Inc. [stock MET][/stock].
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  • Exit, Stage Left: MetLife to Pick Up First Horizon's National Mortgage Footprint, Servicing Portfolio

    The rumors are true -- First Horizon National Corp. [stock FHN][/stock] said Wednesday morning that it will sell essentially its entire national mortgage footprint to MetLife Bank, N.A. in a deal that will see more than 230 retail and wholesale offices nationwide, and a $20 billion servicing portfolio and platform, change hands.
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  • This is news?

    Some of the industry's trade press today is buzzing about a potential exit from mortgage banking by Tennessee-based First Horizon National Corp. -- and we can't help but scratch our heads. After all, HW reported on the potential exit way back in the middle of April, as company executives said then that they were likely to exit the business, if it couldn't be sold.
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