Bank of America funded $1.47 billion in reverse mortgages in the fourth quarter, ranking first nationwide, according to preliminary survey figures compiled by National Mortgage News and the Quarterly Data Report.BoA's reverse production business soared by 182% compared to the same period in 2007. Wells Fargo & Co. ranked second among reverse lenders, originating $1.38 billion, a 7% gain.
New American Funding also promoted Stacy Chevalier Northwest regional vice president, and MISMO added three members to its board of directors.
A lawsuit claims the bureau regularly assigns higher-responsibility examination work to Black workers without corresponding pay bumps or promotions.
GSE loans between 30 and 59 days late on their payments saw a 13 basis point rise in delinquency rates, while most non-agency MBS types saw annual increases.
House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.