News Topic: mortgages

This five-part series is a comprehensive effort to explain the racial discrimination Black Americans face in our financial system. ... Read full article

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers. ... Read full article

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses. ... Read full article

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses. ... Read full article

The Buffalo, N.Y., bank will pay $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs. ... Read full article

Spending is up and deferrals are down sharply, signaling that the economy has turned a corner, CEO Brian Moynihan said. The outlook stood in stark contrast to JPMorgan Chase, which set aside more funds to address potential exposure in consumer banking. ... Read full article

The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations. ... Read full article

The company says it plans to originate 40,000 mortgages for Black and Hispanic households and finance 100,000 affordable rental units over five years. ... Read full article

The company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission. ... Read full article

Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered. ... Read full article

The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers. ... Read full article

The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan. ... Read full article

The former chairman of the National Credit Union Administration will work with the fintech to broaden its reach in the credit union space. ... Read full article

The company's software can now be used to handle personal loans, credit cards and specialty-vehicle loans. ... Read full article

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic. ... Read full article

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending. ... Read full article

Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again. ... Read full article

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments. ... Read full article