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First Horizon Home Loans

First Horizon Loan Officer talk about financing options

Taylor Vilhauer, a Relationship manager for First Horizon Home Loans in Vancouver, WA talk about different options that home buyers have in this ...

Charlotte officially down to three locally based banks

Two of Charlotte’s biggest community banks officially have new out-of-state owners.

Memphis, Tenn.-based First Horizon National on Friday announced that it had completed its acquisition of Capital Bank Financial Corp., while Columbia, S.C.-based South State Corp. said it had finished its purchase of Park Sterling Corp.

The deals were first announced in April and leave Charlotte with a shrinking list of banks based in a city built on the financial services industry. After Carolina Premier Bank completes its planned sale to Dunn-based Select Bancorp, only Bank of America and NewDominion Bank will have their headquarters in the city.

The dwindling number of Charlotte-based banks has been a key factor in the city’s loss of its title as the nation’s second-largest banking center to San Francisco. As the Observer first reported in May , growth in San Francisco’s financial sector enabled it to push Charlotte to No. 3, based on value of loans and other assets held by banks headquartered in the respective cities. In 2007, Charlotte was home base to eight banks, including Wachovia, which was sold to Wells Fargo a year later during the financial crisis.

Hope on horizon for first-home buyers

In a statement released this morning the central bank said from the start of next year that it would increase the cap on banks from 10 percent to 15 percent for new mortgage lending to owner occupiers.

Loan easing 'not enough' for first-timers

Currently no more than 10 percent of loans can go to owner occupiers with a deposit of less than 20 percent.

It will also ease the restrictions for investors.

At the moment only 5 percent of lending to investors can have a deposit of less than 40 percent. That will increase to allow deposits of 35 percent for no more than 5 percent of investor lending.

Reserve Bank Governor Grant Spencer said loan-to-value ratios (LVRs) had been in place since 2013 to address financial stability risks arising from rapid house price inflation and increasing household debt.

"These policies have helped improve banking system resilience by substantially reducing the share of high-LVR loans."

Spencer said in the past six months pressures on the housing market had continued to moderate due to further tightening of the LVRs, a firming of bank lending and an increase in mortgage rates.

Help with state of mortgage industry?

ok i know that the mortagage industry is really bad right now. my dad manages a first horizon home loans office and i think his job might be at stake. i am only 13 and my dad wont talk about it but im really worried about it.

First Horizon is a very conservative shop so business will be slow, but they will stick around. главная услуги электрика в алматы.