Finance

CEO Brian Moynihan plans to keep directing some of the bank's excess capital into new market expansions, he said Wednesday. "Organic growth is the reality," given the bank's already dominant U.S. market share, he said.

Lorie Logan, president of the Federal Reserve Bank of Dallas, said in a speech Wednesday that she is content to leave interest rates where they are, adding that she would want to see inflation fall to 2% before considering cuts.

FHFA's move to greenlight VantageScore 4.0 while sidelining FICO 10T has sparked a high-stakes clash over the future of mortgage credit scoring.

The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.

CEO Robin Vince refused to comment on "rumors or speculation" about a potential merger between the custody banking giant and its smaller rival, Northern Trust. He also said that the bar for BNY to engage in M&A is "very high."

Gain on sale at JPMorgan Chase fell by 5 basis points in the second quarter, which could be a slightly adverse sign for mortgage banker results, KBW said.

Strong fee income growth and solid credit quality helped offset weak demand for credit as the San Francisco-based bank reported a 20% boost to earnings per share from a year ago.

Chairman and CEO Jamie Dimon said in a Tuesday statement that "the U.S. economy remained resilient" during the second quarter, adding that the recent tax cuts and potential deregulation are "positive for the economic outlook."

Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.

New limits for forward commitments add to indications the secondary mortgage market is watching builder partnerships with home lenders closely.

While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.

The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.

The terms cover various aspects of the application and closing process that mortgage lenders may charge consumers a fee for performing when producing a loan.

The government-sponsored enterprise has reportedly added a new vendor to a test in which it buys certain loans without title insurance or attorney opinion letters.

Federal Reserve Gov. Christopher Waller said that criticisms of the Fed's balance sheet and calls to return to a scarce reserves system are misinformed, saying that much of the central bank's balance sheet is the result of activities outside the Fed's control.

The deal is the seventh prime jumbo issuance from Chase Home Lending Mortgage Trust in 2025.

US Treasuries fell for a fifth day as demand for long-term government debt across the globe wanes amid a flurry of bond auctions this week.

The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.

New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the "medium to long term."

Both government-sponsored enterprises also are tightening rules around condo and co-op loans in buildings that have been involved in insolvency proceedings.