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The rating agency has revised the long-term issuer default rating for PacWest Bancorp and its banking subsidiary, Pacific Western Bank, from "BBB" to "BBB-" and says it doesn't expect the bank's common equity Tier 1 ratio to bounce back anytime soon.

As recently as last week, the shuttered Cypress Mortgage Capital was marketing an offer for non-qualified mortgage loans.

On a combined basis, the GSEs performed better under this year's scenario than they did in 2021, but the Federal Housing Finance Agency said changes were still needed.

Scott Sowers is a reporter based in the Washington, D.C., Bureau where he covers ESG issues, cyber-crime, lobbying, and taxation. Prior to joining The Bond Buyer he freelanced for The Washington Post, The New York Times and The Atlantic writing about real estate. Other areas of expertise include architecture, design, energy, housing policy, automotive, and the utilities.

The company is close to completing the outsourcing of its servicing operations and is bullish on the potential to grow its broker network, but higher rates and fierce competition have hurt earnings.

The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.

The affordability crisis is expanding as Americans move back to big cities and some areas suffer a housing shortage.

Gadi Shamia is the CEO and co-founder of Replicant, a leader in Contact Center Automation. Replicant helps companies automate their most common customer service calls while empowering agents to focus on more complex and nuanced customer challenges with natural sounding conversations. Prior to Replicant, Gadi helped to take Talkdesk from a seed-stage company to a Unicorn startup as its COO, and played a key role in architecting and executing its 20X growth in people and revenue. Gadi also held board roles at EchoSign (acquired by Adobe), Intacct (acquired by Sage), Algolia, and Talkdesk.

After falling earlier in the month on expectations of less aggressive monetary policy, inflation concerns early in the week drove averages higher.

Elizabeth Lawrence is an editorial intern at American Banker.