News Topic: mortgages

The Illinois company reported strong loan growth, an wider net interest margin and a one-time net tax benefit of nearly $8 million tied to recently passed tax reform. ... Read full article

Weak profits and the threat of false claims charges are keeping banks out of the market for loans guaranteed by the Federal Housing Administration and the Department of Veterans Affairs. ... Read full article

Anthony Noto may be SoFi’s next CEO; manager is quietly let go following an internal investigation into alleged sexual misconduct. ... Read full article

Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending. ... Read full article

A bill passed by the House would raise the threshold that allows smaller banks and credit unions to avoid expanded Home Mortgage Disclosure Act requirements imposed by a 2015 rule. ... Read full article

Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, said his department "broadly" agrees with the FHFA plan, which would return Fannie Mae and Freddie Mac to the private market and provide them an explicit government guarantee. ... Read full article

Blue Lion Capital, which had a recent request for a board seat rejected, plans to nominate multiple people to run for the board at HomeStreet's next annual meeting. ... Read full article

Total loans rose 3% at the Minneapolis bank, but its net interest margin climbed 10 basis points. It also booked a one-time accounting gain of $910 million related to tax reform. ... Read full article

Housing regulators should not adopt an alternative credit scoring model until the banking industry is on board. ... Read full article

The JPMorgan Chase CEO is rejecting arguments that banks are poised to loosen underwriting standards to win more mortgage business. He said what's needed to encourage banks to make more loans to borrowers with spotty credit files are changes to FHA ... Read full article

The Iowa company was sidelined by a Fed order for 2,155 days. Finally free, Ambank is open to making an acquisition and offering its mortgage origination services to other institutions. ... Read full article

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis. ... Read full article

Housing finance reform proposals could make it challenging for community banks and credit unions to serve rural mortgage markets, according to a report issued Wednesday by Brookings and the Center for Responsible Lending. ... Read full article

The alternative credit scoring model VantageScore would not increase access to credit, says Joe Smith, the former monitor for the 2012 national mortgage settlement. ... Read full article

Billionaire’s bid to buy MoneyGram is his latest setback trying to crack the U.S. market; banks want to stick with FICO while nonbanks want to use VantageScore. ... Read full article

Startups that have developed blockchains for real estate finance are starting to conduct a broader array of transactions, including property sales. Banks can either try to incorporate the technology into their businesses or risk being displaced by it. ... Read full article

But bank will benefit long-term from tax reform; judge says accounting firm failed to detect mortgage fraud that did in Colonial Bank. ... Read full article

The Consumer Financial Protection Bureau on Wednesday launched a rate spread calculator and validation tool for financial companies reporting Home Mortgage Disclosure Act data starting Jan. 1. ... Read full article