Banks have started reconsidering how much they are willing to pay for low-income housing tax credits as expectations of a Trump tax cut surge, slowing down some projects already and threatening developers with heavier financing burdens.
Bank of America Corp.'s fourth-quarter mortgage revenue almost doubled to $519 million from a year earlier.
PNC's fourth-quarter profit improved on higher lending to corporate customers for real estate and other loans.
Wells Fargo, which lost its status as the world's most valuable lender after a scandal in its retail bank, said profit dropped 5.4% as revenue from its mortgage business declined.
Bankers are trying to stop the Consumer Financial Protection Bureau from allowing consumers to rank how companies handle complaints on a one- to five-star scale and to publish narratives of consumer experiences in an online public database.
Higher interest rates will add stress for millennials looking to buy a home, according to an analysis from Fitch Ratings.
Mortgage industry hiring and new job appointments for the week ending Jan. 13.
To meet a 20% down payment, homebuyers on average have to spend more than two-thirds of the average annual income, according to a report from Zillow.
The Federal Housing Administration program could see a $50 billion increase in single-family loan endorsements this year if a planned 25-basis-point annual premium cut goes into effect on Jan. 27.
As president of the secondary marketing agency, Tozer has helped the mortgage market to continue functioning and keep up with changes following the financial crisis. The incoming Trump administration has not yet picked a successor.
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