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Speaking at an event hosted by The Clearing House, the Federal Reserve's vice chair for supervision said he expects both instant payment processing systems to be widely adopted over time.

Policymakers are all too quick to categorize IMBs as financially risky institutions; making them easy targets for stricter - and unnecessary - federal oversight and regulatory efforts, Stevens and Olson argue.

Two tax experts share the key strategies for financial planners and tax professionals to discuss with clients in the fourth quarter.

Instead of buybacks, performing loans could be subject to fees related to defect rates, with some exceptions made for small lenders that deliver a limited volume of mortgages.

For the second time in the past three J.D. Power polls, Rocket Mortgage has been dislodged from the top spot.

Because the measure of the insurance fund's soundness remained well above its target, trade groups asked whether the cost of coverage could be further reduced.

The departures of David Benson and Jeffrey Hayward means decades of internal experience are leaving the company, said David Stevens.

Loan activity overall came in higher for the second week in a row, with interest rates flattened following an extended volatile period, the Mortgage Bankers Association said.

The lender has shed over $1 billion in annualized expenses and said it retains enough capital to sustain operations for the next several years.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.