Items Tagged with 'PricewaterhouseCoopers'

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  • PwC reaches $335 million settlement with FDIC over Taylor, Bean & Whitaker/Colonial Bank audits

    Auditor settles damages claim for more than half of original amount
    PricewaterhouseCoopers will pay $335 million to the Federal Deposit Insurance Corp. in a settlement that ends claims that the auditor failed in its duties by not discovering the accounting malfeasance that led to the late-2000s collapse of Colonial Bank, which funded the mortgages originated by Taylor, Bean & Whitaker.
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  • Experts: Housing starts signal trouble ahead

    Inventory and affordability concerns create supply and demand stalemate
    In October, growth in housing starts was propelled by development in the multifamily sector, but some experts are warning that there could be trouble ahead for the housing market. In fact, several believe that affordability and inventory concerns are contributing to a turn in the market, negatively impacting homebuilder confidence.
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  • Housing starts ticked up in July

    Single-family housing starts climbed to 862,000 in July
    Housing starts slightly increased a bit in July, according to the latest report from the U.S. Census Bureau. PricewaterhouseCoopers Principal Scott Volling said that homebuilders are being affected by a slight increase in inventory.
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  • PwC ordered to pay $625M to FDIC over Taylor, Bean & Whitaker/Colonial Bank audits

    Federal judge awards damages over auditor’s “negligent” conduct
    A federal judge this week ordered PricewaterhouseCoopers to pay more than $625 million to the Federal Deposit Insurance Corp. due to the auditor’s failure to discover the house of cards that was the mortgage business of Taylor, Bean & Whitaker. Click the headline for the full story.
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  • PwC: The digital mortgage is our new normal

    What are borrowers looking for?
    In its latest Home Lending Experience Radar report, published this week at the LendIt Fintech USA conference in San Francisco, PricewaterhouseCoopers said digital is our new normal and explains how consumer expectations are shifting and what these new trends mean for lenders.
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  • Federal judge finds PwC negligent in Taylor, Bean & Whitaker/Colonial Bank audits

    Lawsuit brought by FDIC after Colonial Bank’s failure
    One of the most prominent ghosts of the financial crisis is back in the news again: Taylor, Bean & Whitaker. Late last week, a federal judge ruled that PricewaterhouseCoopers was “negligent” in its role as the auditor of Colonial Bank, which funded many of TBW's mortgages before it became one of the largest bank failures in the country's history.
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  • Ellie Mae names PwC premier consulting partner

    Part of Ellie Mae’s Pro consulting partner program
    PricewaterhouseCoopers joined Ellie Mae’s Pro consulting partner program as a Premier Partner. The premier level is offered by invitation only, with PwC being Ellie Mae’s first Premier Partner in the program. This is what the two companies hope to achieve though their partnership.
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  • PwC settles $5.5 billion lawsuit over Taylor, Bean & Whitaker audits

    Accused of failing to recognize malfeasance in TBW, Colonial Bank accounts
    The ghost of Taylor, Bean & Whitaker struck again Friday, as PricewaterhouseCoopers agreed to settle a $5.5 billion lawsuit that accused the company of failing in its audits duties by not discovering the accounting malfeasance that led to one of the most spectacular crashes to come out of the housing crisis.
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