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Long Island-based New York Community Bancorp has a large concentration in loans on New York City apartment buildings with rent restrictions. Property values in that sector have tanked amid higher interest rates, inflation and 2019 revisions to state law.
March 4
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The credit-insurance risk transfer deal from Fannie Mae covers risk from $9 billion in single-family loans and includes a new LTV identifier for the first time.
March 4
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More than 55% of all purchase loans included in agency and government transactions were given to people who had not previously owned their residence, Intercontinental Exchange said.
March 4
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The government mortgage-backed securities guarantor needs data breaches reported within a certain period of time and has specific instructions for subservicers.
March 4
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The home lenders voted by their employees as the Best Mortgage Companies to Work For in 2024 discuss supporting and engaging teams during a trying time for the industry.
March 4
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The root cause of the hack affecting over 5 million customers was an employee clicking on a link in a work-related search result, according to public case documents.
March 4
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Rocket shrunk its workforce by about 20% year-over-year, while Academy cut 250 employees prior to being acquired by Guild Mortgage.
March 4
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A proposed class action claims the broker company used the photographs and information of LOs not affiliated with the company as a means to drive traffic to its website.
March 4
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Critics argue the Federal Home Loan Bank System earned record profits last year and should provide a public benefit commensurate with the perks to members.
March 3
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New York Community Bancorp faced new questions Friday after a flurry of disclosures led to a steep sell-off in its stock. The embattled Long Island-based lender beefed up its risk leadership, but Fitch cut its rating to "junk" status.
March 1
