As mortgage woes return, lessons from last crisis come to light


A subprime-related settlement between the government and Deutsche Bank provided meaningful benefits to some U.S. consumers in need, according to a new report. But the author acknowledged that those gains could prove illusory for some consumers given the coronavirus crisis.


SoFi applies to open a national bank


If it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings. It comes nearly three years after SoFi pulled the plug on an earlier effort to open an industrial bank.


Home mortgage lender Quicken Loans files for IPO


The Detroit-based parent company of Rocket Mortgage and Quicken Loans listed the size of its initial public offering as $100 million and says it made a profit the past three years.


Financial services industry struggles to emerge from lockdown


Our third monthly survey found almost six out of 10 employers report that their plans for the return to work are stymied by uncertainty — specifically, a lack of clarity on the right timing, and persistent questions about how to provide a safe environment for their employees.


CFPB gives mortgage servicers relief to help struggling homeowners


A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.


FHFA identifies supervisory concerns at two Federal Home Loan banks


The agency flagged faulty risk management and other issues at the Federal Home Loan Bank of Des Moines and Federal Home Loan Bank of San Francisco in exams conducted last year.


The calm before the storm of bankruptcies


Lawmakers shouldn't let themselves be misled by a slower pace in personal bankruptcy filings so far this year.


Why the pandemic isn’t scaring away first-time homebuyers


One segment of the market, at least, has proved more resilient than many feared early on in the crisis.


FHA to insure new single-family loans subject to forbearance plans


The policy comes more than a month after a different agency issued similar guidance for loans backed by Fannie Mae and Freddie Mac.


Michigan bank hires turnaround expert to tackle long list of challenges


Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.