The Eleventh Federal Home Loan District Cost of Funds Index has broken the 3% barrier, reaching a four-year high.According to the Federal Home Loan Bank of San Francisco, the index for October stood at 3.074%, up 10 basis points from 2.972% in September. It was the first time COFI has exceeded 3% since December 2001, when it also stood at 3.074%. COFI is a weighted average of the cost of the money that thrifts in California, Arizona, and Nevada use to originate mortgage loans. The FHLBank of San Francisco can be found on the Web at http://www.fhlbsf.com.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
6h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
8h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
8h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
10h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
11h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18