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The Charlotte, North Carolina, company has agreed to sell its remaining 80% stake in its insurance brokerage unit to raise billions of dollars in cash and extra capital. The "wild card" is how Truist will deploy them, one analyst says.

Amid an upturn in deposits, banks are searching for ways to put this new cash to work. The traditional option — boosting lending — is hard to do right now. That's left banks to park more money in high-quality securities that they believe will boost returns without heaping on too much credit risk.

The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.

The Federal Reserve expects to cut interest rates three times this year, some say as early as March, if data alllow those moves. Following the Jan. 30-31 FOMC meeting, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions, will provide his take on the meeting and Chair Jerome Powell's press conference.

An increase in conventional lending products drove the upturn, but the overall reading of the Mortgage Bankers Association index still landed near the longtime low from late 2023.

The quarterly rise in late payments on Federal Housing Administration loans was more than five times the increase for home loans overall.

The original lawsuit was one of several filed in 2014 in a coordinated effort among federal and state regulators aimed at fraudsters trying to cheat distressed mortgage borrowers.

Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.

Fannie Mae is implementing a new prohibition for traditional valuations and addressing the possibility of the National Flood Insurance Program lapsing.

While refinances shot up, purchase lending saw a second weekly pullback according to the Mortgage Bankers Association.

The majority of users are looking for new credit lines and others want to improve their scores. Credit monitoring by consumers may be a good indicator of both, Transunion found.

There will still be local oversight. Incentives to maintain registered offices will include listing in an online lender search tool and access to certain data.

The integration of Rocket's AI-backed tool on Apple's newest product, Apple Vision Pro, is the second tie-in with the tech giant in the last three months.

Fannie Mae also will be making a four-figure adjustment available next month and Freddie Mac is contemplating expanding its program to a new income tier.

A clash over pay playing out in contract negotiations between the Consumer Financial Protection Bureau and its employee union occur as the Supreme Court is considering whether the agency must get its funding from Congress.

The annual reconciliation shows nonbank cuts were deeper than the initial read suggested, and comes as the latest numbers for broader employment show a surge.

With tougher capital requirements looming, a number of regionals including U.S. Bancorp, Huntington and Santander are using these new instruments to share risk with nonbank investors and lighten their capital load. Experts point out the pros and cons.

A key Senator had urged Fed Chairman Jerome Powell to lower rates early this year, but although there's more consensus on making such a move, it now looks unlikely to happen until after the next meeting.

Aspiring buyers took out fewer loans last week, leading to the overall decline, but the average purchase-loan size also surged to its highest mark since last spring, the Mortgage Bankers Association said.

The megabank failed to adequately protect and reimburse customers who were victims of wire-transfer fraud, according to a lawsuit by the New York Attorney General. Citi said that it follows all relevant laws and regulations.