Standard & Poor's has changed its outlook on the Seattle Federal Home Loan Bank from "negative" to "stable" in response to an announcement that the Federal Housing Finance Board has terminated a supervisory agreement the regulator imposed on the bank two years ago.The Seattle FHLBank got into trouble because of its mortgage purchase program, and the credit rating agency commented that its turnaround efforts have been successful so far and that the bank's profitability should improve over the next several years. "We believe the Finance Board's termination of the written agreement reflects the significant progress the FHLB-Seattle has made in readjusting its business mix and risk management practices, as well as in strengthening its capitalization," S&P said. The rating agency also reaffirmed the Seattle bank's AA+/1A-1+ counterparty credit rating. The Seattle bank can be found online at http://www.fhlbsea.com.
-
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
1h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
1h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
1h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
4h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25