Royal Bank of Canada, Toronto, is looking to exit the U.S. mortgage market and has hired an investment banking firm to advise it on its options, industry sources have told MortgageWire.A spokeswoman for RBC in Toronto declined to comment. In the fourth quarter, RBC Mortgage originated $3.9 billion in residential loans, ranking 27th nationwide. It services about $4 billion in product. (See the Feb. 28 issue of National Mortgage News for more details.)
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.
Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.
The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
