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Editorial Results (free)

1. First Horizon Increases Mortgage, Litigation Costs -

First Horizon National Corp., the Memphis-based parent company of First Tennessee Bank, forecasts it will incur an uptick of about $272 million in mortgage repurchase and litigation costs during the second quarter.

2. Mortgage Fraud Reports Spike as Lawsuits Pile Up -

VIENNA, Va. (AP) – The wave of lawsuits and other demands from investors in mortgage-backed securities contributed to a big spike in reports of likely mortgage fraud during the second quarter, according to a Treasury Department report.

3. First Horizon, Fitch Say Risk Manageable -

Bryan Jordan, the president and CEO of First Tennessee Bank’s parent company, told his audience at an industry conference a few days ago in New York City that his company has been out of the mortgage business for three years now.

4. Feds Sue 17 Major U.S. Banks, Including First Tenn. Parent -

The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed lawsuits seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.

5. Feds Sue 17 Major U.S. Banks, including First Tenn. Parent -

The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed suit seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.

6. First Horizon Discloses Exec's Exit Pay Package -

First Tennessee Bank’s parent company, First Horizon National Corp., has disclosed details of the compensation package Charles Burkett will receive upon leaving the company.

7. Highwoods Extends Tenants at Southwind Office Center -

Raleigh, N.C.-based Highwoods Properties Inc. has signed two deals at its Southwind Office Center, a 62,000-square foot, three-story building with views of the Tournament Players Club at Southwind golf course.

8. First Horizon Units Flagged by SEC Group -

The staff of the U.S. Securities and Exchange Commission has sent a Wells notice to two subsidiaries of First Horizon National Corp., the Memphis-based parent of First Tennessee Bank, and a company executive.

9. First Horizon Assures Customers With New Tagline - The banking subsidiary of Memphis-based First Horizon National Corp. wants customers to know it is continuing to lend money despite the challenging national economic picture.

To that end, First Tennessee Bank is rolling out a new tagline – “Powering Your Dreams” – that will start appearing in print, radio, Internet and TV advertisements next week.

“It’s about lending – we want to make loans, and we’re making loans to consumers and businesses,” said Dan Marks, chief marketing officer for First Tennessee. “But we also want to emphasize that we’re here with other products and services people need, things like savings accounts and financial planning.”

As a way of kicking-off the rollout of the new slogan, the bank is holding a contest encouraging people to submit descriptions of dreams they’d like to fulfill. One winner will be awarded $100,000 to, as the slogan says, power that dream. More information can be found at www.ftb.com/dreams.

...

10. UPS Reports Drop in 3Q Profit -

ATLANTA (AP) - UPS Inc.'s third-quarter profit fell nearly 10 percent despite a rise in sales, the world's largest shipping carrier said Thursday as it warned that it faces more challenges ahead, job cuts may be on the horizon and the "scope and the size" of a deal it is working out to carry some packages for rival DHL could change.

11. First Horizon Completes Sale Of Mortgage Origination Biz -

First Horizon National Corp. has completed the sale of its mortgage origination and servicing business outside Tennessee.

On Aug. 31, First Horizon sold about 250 mortgage production offices outside the state and its loan origination and servicing platforms to MetLife Bank N.A., a unit of MetLife Inc.

12. First Horizon Sells Mortgage Biz to MetLife -

First Tennessee Bank National Association has reached a deal that will allow it to sell all of its mortgage business outside of the state.

First Tennessee is a subsidiary of Memphis-based First Horizon National Corp.

13. Analyst Sees 200,000 US Banking Jobs at Risk From Subprime Crisis -

NEW YORK (AP) - The U.S. financial industry has been shedding jobs at a record clip, and some analysts predict the pace will only accelerate over the next year-and-a-half as banks cut costs in the face of the housing market slump and the weak economy.

14. First Horizon to Cut Mortgage Sales -

First Horizon National Corp. announced Wednesday plans to cut its mortgage sales force by 50 percent, which translates into about 1,500 mortgage positions and about 500 additional positions. The cuts are expected to happen quickly, said John Daniel, head of employee services for First Horizon/First Tennessee Bank.

15. BREAKING NEWS: First Horizon to Cut Mortgage Staff -

First Horizon National Corp. plans to cut its mortgage sales force by 50 percent, which translates into about 1,500 mortgage positions and about 500 additional positions, the Memphis-based company announced Wednesday. The cuts are expected to happen pretty quickly, said John Daniel, head of employee services for First Horizon/First Tennessee Bank.