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 rules and other policy fixes.
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.
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.
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.
The alternative credit scoring model VantageScore would not increase access to credit, says Joe Smith, the former monitor for the 2012 national mortgage settlement.
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.
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.
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.
David Becker is trying to prove to investors that his Indiana bank can succeed over the long term. With the rise of online banking and fintech firms, Becker is a community banker worth watching in the new year.
