News Topic: mortgages

The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending. ... Read full article

President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen. ... Read full article

Loan originations hit a record $16.7 billion in the fourth quarter, though executives caution that a recent rise in mortgage rates could slow refinancing activity. ... Read full article

The bank agreed to acquire A Mortgage Boutique, which operates in six states. ... Read full article

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity. ... Read full article

The Swiss banking giant is expected to set aside $850 million for litigation costs stemming from a long-running dispute with bond issuer over the sale of mortgage-backed securities. ... Read full article

While some legislatures have extended provisions temporarily allowing online notaries, other lawmakers are pushing for those rules to be made permanent. ... Read full article

Stimulus payments and deferrals have helped borrowers stay current, but lenders must brace for a capital hit when those benefits eventually run out. ... Read full article

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising ... Read full article

The company promoted two executives as part of an effort to revamp its leadership team and establish a bigger presence in the Carolinas. ... Read full article

Demand for home purchases and car loans would need to increase substantially to make up for what's expected to be a sharp drop in refinancing revenue. ... Read full article

The percentage of seriously-delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter. ... Read full article

A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks. ... Read full article

The median credit score for new mortgages and refinancings climbed to 786 during the third quarter, its highest level in more than two decades, according to a report from the New York Fed. ... Read full article

The Toronto parent of BMO Harris Bank has joined a growing list of banks directing billions of dollars toward affordable housing and loans to low- and moderate-income communities. ... Read full article

Demand trends were mixed in the third quarter, with consumers showing more willingness than businesses to take on new debt, according to the Fed’s most recent survey on bank lending practices. ... Read full article

JPMorgan Chase is going on the “offensive” in mortgages as home prices rise across the country, said Marianne Lake, the bank’s chief executive for consumer lending. ... Read full article

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship. ... Read full article