As the Federal Housing Administration prepares to release its annual actuarial report sometime this month, the industry is questioning how the reverse mortgage program fits into the agency's future. ... Read full article
The agency says lenders lacked the risk appetite, while bankers point to concerns over turnaround times and strict loan terms. ... Read full article
The San Juan company has largely recovered from the hurricane that hit a year ago, and it has made extensive preparations for future natural disasters. Yet its home market is still suffering from debt and net outmigration of residents. ... Read full article
The storm dumped a record amount of rain on North Carolina over several days. Some sections of the coast remain off limits due to flooded highways. ... Read full article
With the large storm threatening coasts in Virginia and the Carolinas, some banks are planning to shutter branches for the rest of this week. ... Read full article
Every year communities are hit by hurricanes, earthquakes, tornadoes and other disasters. These banks have found novel ways to take care of customers and employees in those emergencies. ... Read full article
The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information. ... Read full article
Lawmakers authorized a four-month extension less than a day before the program was set to expire. ... Read full article
With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension. ... Read full article
Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30. ... Read full article
Once again, congressional inaction on reauthorizing the National Flood Insurance Program is prompting concerns about what a lapse in coverage could mean for loan closings. ... Read full article
A plan to bring in banks was created right after last summer’s hurricane devastation, but the magnitude of those storms, government dawdling on the issue and lenders’ reluctance to participate are key reasons zero loans have been made under the program. ... Read full article
As Congress moves quickly toward passing regulatory relief legislation, another financial services policy goal — long-term reform of the National Flood Insurance Program — remains stalled. ... Read full article
Regulators said they were taking steps to recognize contributions to the recovery made by banks anywhere in the nation. ... Read full article
American Banker comprehensively covered the impact hurricanes Harvey, Irma and Maria had on banks and their customers, including on-the-ground reporting and analysis. ... Read full article
The fires are raging in Los Angeles and Venture counties, prompting a state of emergency by California's governor. ... Read full article
Numerous business sectors are urging lawmakers to act quickly to extend the National Flood Insurance Program before a crucial deadline next week. ... Read full article
Banks and their regulators quickly got back up to speed in markets hit hard by recent hurricanes, in part due to the lessons learned by Hurricanes Katrina and Sandy, a panel of regulators said Tuesday. ... Read full article
The online small-business lender, which has been cutting expenses, said it is on track to achieve profitability in the fourth quarter. ... Read full article
A securities settlement, portfolio asset sales and greater interest among smaller lenders helped Freddie Mac compensate for potential losses from the catastrophic hurricane season. ... Read full article
