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As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

The former Obama administration official and MBA head died unexpectedly on Jan. 16.

Much has been said about how millennials and Gen X have a higher homeownership rate now, but how these generations compare at age 24 is a different story.

Federal Reserve Gov. Michelle Bowman, a vocal opponent to the proposed risk capital rules for large banks, said she still sees a path forward for capital reform.

But the index is still well below pre-pandemic levels, suggesting momentum may be slow to build with borrowing costs still twice as high as they were two years ago.

The reality of converting office properties to multifamily housing is not as simple as it might seem, said Lisa Pendergast.

The index of mortgage applications to buy a home increased 9.2% in the week ended Jan. 12 to 162.2, the highest since July 14, according to the Mortgage Bankers Association.

Properties in the top three ZIP codes are seen by an average of 4.5 times more unique viewers than the typical property in the U.S. and spend an average of 16.3 days on the market.

The Seattle bank's stock price fell in 2023 amid concerns over rising interest rates and its concentration of multifamily loans. The buyer is FirstSun Capital Bancorp, which raised $175 million as part of the deal.