Organization Root Tag

FHA loans accounted for about half of the annual rise in foreclosure starts and 80% of the rise in active foreclosures in September, according to ICE.

The Federal Reserve Friday issued a set of proposed changes to its stress testing program for the largest banks that would disclose the central bank's back-end stress testing models, a move that the Fed had long opposed out of fear of making the tests easier for banks to pass.

The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.

Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.

Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.

A failure at an Amazon Web Services data center in Virginia caused widespread outages, hitting services at several banks and fintechs.

The reduction in force affects under 1% of Rocket's team, with the decision to streamline operations made following identifying overlapping roles post-merger.

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.