mortgages

Regulatory playing field for banks, nonbanks is anything but level

10/11/17

The Consumer Financial Protection Bureau was created in part to ensure that nonbanks are subject to federal oversight, but the fact is that 99% of banks are exempt from CFPB supervision.

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CIT agrees to sell $900 million reverse-mortgage portfolio

10/06/17

The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines.

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Why more millennials with student debt are qualifying for mortgages

10/06/17

A change in the formula that banks use to calculate borrowers’ debt-to-income ratios, announced by Fannie Mae in April, appears to be spurring more lending.

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Iberiabank warns of 3Q costs from hurricanes and energy exposure

10/05/17

The Louisiana company also set aside funds to cover efforts to settle litigation tied to its mortgage business.

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A Texas banker's advice to peers: Be your own policy advocate

10/04/17

Cynthia Blankenship, an executive at Bank of the West in Grapevine, Texas, has been a regular in Washington for years fighting for regulatory changes. She is encouraging other bankers to do likewise.

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Alexa, get me a mortgage

10/04/17

Some banks are looking at how to translate the complicated and document-heavy mortgage lending process into the digital world of voice interactive personal assistants.

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HomeStreet continues to pare back its mortgage operations

10/02/17

The Seattle company, which has cut about 130 positions in the business in recent months, pointed to lower originations tied to a shortage of new and resale housing.

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Small mortgage lenders seek exemption from CFPB exams

10/02/17

In a recent letter, two trade groups representing that industry lobbied Treasury Secretary Steven Mnuchin to support a bill that would give oversight of nonbank mortgage lenders exclusively to state regulators.

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Ocwen settles servicing lawsuit with 10 states

09/29/17

Ocwen Financial reached a settlement with 10 states where it can't acquire servicing rights for eight months but it will not face any financial penalties.

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A Maine community bank takes plunge into digital mortgages

09/29/17

Stephen Sessler, the director of mortgage banking at the $4 billion-asset Camden National Bank, provides other lenders a peek at the benefits and pitfalls of digital mortgages.

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