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News, Page 35

Australia's Genworth says Westpac scraps mortgage insurance deal, sees profit hit

Genworth Mortgage Insurance Australia Ltd said Westpac Banking Corp, the country's second-biggest lender, has cancelled a sales agreement after a review of its riskier loans, a move that will hit the insurer's 2016 earnings. The Australian affiliate of United States Genworth Financial Inc said on Tuesday Westpac gave the company 90 days' notice that it was ending the sales accord. The …

Mortgage Choice embarks on CRM consolidation

Residential mortgage broker, Mortgage Choice, is in the middle of a Microsoft Dynamics customer relationship management (CRM) rollout which will replace three separate CRM systems.

Citigroup, Goldman, UBS in $235 million mortgage settlement

By Jonathan Stempel NEW YORK (Reuters) – Citigroup Inc , Goldman Sachs Group Inc and UBS AG agreed to pay $235 million in cash to settle U.S. litigation accusing them of concealing the risks of mortgage securities sold by the former Residential Capital LLC before the global financial crisis. The preliminary settlement with investors who bought the securities was made public on Friday in filings …