mortgages

Fed working group proposes SOFR-based mortgage by 2021

07/11/19

The Alternative Reference Rates Committee promotes the adoption of a new Secured Overnight Financing Rate index rate to replace Libor in pricing hybrid adjustable-rate mortgages within the next two years. The change would be the first application of SOFR to a consumer-loan product.

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HomeStreet to buy out its loudest critic

07/11/19

The activist investor Blue Lion Capital, which had pushed for HomeStreet's sale, is selling all of its stock to the Seattle company.

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Don’t look now, but home equity delinquencies are rising

07/10/19

Past due home equity loans and credit lines rose while most other consumer lending categories held steady or improved, according to new data from the ABA. Why it happened is a bit of a mystery.

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Dear Congress: Don’t toss CECL out, work with FASB to amend it

07/02/19

With some adjustments, the loan-loss accounting standard can be more secure and workable for banks.

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Customers in Pa. warns of earnings hit after mortgage client shuts down

07/01/19

The bank said it could record a $7 million charge in the second quarter after the client unexpectedly closed in May.

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Manafort's banker banned by OCC

07/01/19

The ban, which came to light Monday, will remain in effect until either the final disposition of Stephen Calk’s court case or until it is terminated by Comptroller Joseph Otting.

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CFPB extends comment period for HMDA proposal

06/27/19

The CFPB is giving trade groups and consumer advocates another three months to comment on its proposal to change what data is collected under the Home Mortgage Disclosure Act.

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FB Financial wraps up mortgage refresh with correspondent channel sale

06/27/19

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business.

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Senators: Decision to halt FHA lending to DACA recipients is unacceptable

06/26/19

A group of Senate Democrats have called on HUD Secretary Ben Carson to reverse his agency’s opinion that borrowers in the Deferred Action for Childhood Arrivals program are ineligible for FHA loans.

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HomeStreet prevails in battle with activist investor

06/21/19

All of the Seattle company's directors, including CEO Mark Mason, were backed by shareholders despite a challenge by Blue Lion Partners.

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