Kevin Wack

Staff Writer
Kevin Wack covers Capitol Hill for the American Banker. From 2009 to early 2011, he worked on financial policy in Washington, first as a fellow with the Senate Permanent Subcommittee on Investigations and later as a policy analyst and senior editor for the Congressional Oversight Panel for TARP. Prior to arriving in Washington, Wack worked as the investigative reporter for the Portland Press Herald in Maine. He has also reported for the Associated Press.

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The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.
Thomas Pahl has been appointed acting director of the Federal Trade Commission's consumer protection bureau, the agency said Wednesday.
Corporate borrowers aren't ready just yet to pull the trigger on multimillion-dollar loans to buy fleets of trucks or scads of new inventory despite excitement about a more business-friendly Washington, lenders cautioned.
The newly installed chairman of the Federal Communications Commission voted against 2015 rules that largely rejected the banking industry's entreaties.
The Federal Communications Commission has denied a request to exempt servicers from getting consent before robo-calling borrowers' mobile phones, rejecting arguments that the waiver would enable the mortgage industry to better help delinquent borrowers.
Can some of the top names in mortgage lending outdo online lending startups in head-to-head competition? We're about to find out. Wells Fargo, Quicken Loans and SunTrust have all entered the digital lending business, putting early entrants on the defensive.
A fintech startup called Point is allowing consumers sell a piece of their home equity to investors, rather than borrowing against the value of their houses.
The San Francisco bank reported a 17% drop in mortgage fee income during the second quarter as other lenders made inroads by refinancing its customers.
The U.S. mortgage market is of course considerably smaller, safer and less accessible than it was nine years ago.
The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough restrictions on robo-calling. But the idea is being panned by consumer groups, who say it would give a free pass to mortgage servicers that have a record of consumer-protection violations.
Data breaches have become scarily commonplace. But even small financial institutions can take action to thwart hackers and minimize losses.
Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.
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