In a dramatic move, conservative hardliners blocked President Donald Trump's tax and spending bill, which would have included many measures favored by banks.
The Department of Housing and Urban Development proposal, which would modernize client meetings necessary for some mortgages, is similar to an FHA move.
The company’s servicing operations also reported a quarterly profit, with its portfolio increasing by 20% annually.
A pickup in refinances was offset by the first pullback in purchases in four weeks in the run-up to Labor Day, according to the Mortgage Bankers Association.
The US 30-year yield climbed as much as four basis points to 4.999% on Wednesday before stabilizing.
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Following strikes on nuclear sites, the U.S. warned of a heightened threat environment. Here's how Iran has targeted American banks in the past.
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The Federal Reserve's vice chair for supervision said changes to the supplemental leverage ratio are needed to bolster the Treasury market and ensure banks are not incentivized to take on excessive risks.
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Foreclosure activity surged in the first quarter, underscoring the growing need for borrower support as certain federal protections expired.
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The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."
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President Donald Trump has signed a Congressional Review Act resolution that eliminates the Office of the Comptroller of the Currency's Biden-era rules requiring stricter reviews of bank mergers and a time-out clock for some institutions.
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The resale market looks set to languish for the foreseeable future without some letup in financing costs or downturn in prices.
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The Homeownership Protection Program is funded with money from the national mortgage settlement to help people avoid foreclosure.
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Originators can't divide annual income by 12 to see if the borrower qualifies for a loan.
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Mortgage firms are in fight or flight mode as they plan either to comply to an avalanche of new regs or be acquired by other companies.
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ON-DEMAND VIDEOMonetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before
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ON-DEMAND VIDEOWith the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee
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ON-DEMAND VIDEOWill the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.
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