June 2026

John Medina, president and CEO of First Federal Bank in Florida

First Federal Bank sells third-party mortgage origination unit

A Florida-based financial institution is selling its third-party origination division and a mortgage fulfillment unit that’s part of it to a Chicago-based credit union service organization. Processing Content First Federal Bank struck a deal to sell the TPO division, which includes the QRL Financial Services unit, to the Chicago-based Mortgage Forward. The buyer will incorporate […]

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Rate cuts further dimmed with positive employment report

Key takeaway: The Bureau of Labor Statistics reported Friday that the U.S. added 172,000 jobs in May, while unemployment held steady at 4.3%. Supporting data: Leisure and hospitality added 70,000 jobs, followed by local government with 52,000 and healthcare with 47,000. What’s at stake: The stronger-than-expected employment figures will likely make it more difficult for

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