Finance

The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.

Far bigger transactions were rumored to be brewing in line with megabank Wells Fargo's recent announcement it'll be reducing its portfolio.

For those willing to experiment with the strategy, it could be a long-term differentiator.

The latest month's volume was more than $20 billion lower than in March 2020.

Signature Bank of New York is pulling back from crypto deposits and has increased borrowings from the Federal Home Loan Bank of New York.

While mortgage and real estate startups currently face a challenging environment in seeking investors, some companies are finding venture capital.

Analysts questioned whether the reductions could have a negative impact in terms of scale, but executives said the move has financial advantages — more so than its correspondent exit.

The transactions, combined with news Wells Fargo will be shedding some mortgage servicing rights, add to indications that prices for investors may be more favorable this year.

Among its major accomplishments in the past year were an update to its Reference Model, the foundation for most of its standards.

MSR trading is picking up a little from its seasonal lull but values may not get as high as they did last year, some experts say.

The U.S. Supreme Court turned away four appeals from shareholders of the government-sponsored enterprises who said they were entitled to compensation after the Treasury collected more than $100 billion in profits from the government-sponsored enterprises.

The impact of a weakening economy on quarterly performance will become clearer by the second week of January as banks begin to report fourth-quarter earnings.

The sector is not immune to the same economic instability that affects the single-family residential market, the Mortgage Bankers Association said.

Other investors could step into the breach as depositories depart, and the strain on nonconforming borrowers might not be that bad, recent forecasts suggest.

The change allows for more accessible financing options for a greater number of listings, but not all of those potential buyers qualify for conforming mortgages, Zillow said.

The government bond insurer, an arm of the Department of Housing and Urban Development, confirmed no borrowers were impacted by the transfer of servicing from the bankrupt Reverse Mortgage Funding.

Condominiums have long been a staple for anyone seeking a slice of Florida real estate on a budget, but safety legislation that passed earlier this year in the wake of the deadly Surfside building collapse could plunge the condo market into turmoil.

The company's recently purchased subsidiary, Blue Water Financial, will provide tools for asset pricing, transfer, due diligence and other tasks to ease secondary market trading functions.

Fannie Mae also reportedly took assets from its small senior loan program that were part of RMF's book of business.

But at least one trade group said the Federal Housing Finance Agency needs to be careful to avoid restraining innovation and new product development.