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The Office of the Comptroller of the Currency granted federally chartered banks permission Monday to close branches in California, Nevada and Arizona affected by Tropical Storm Hilary.

Demand-driven inflation will continue to be a problem in the U.S. economy until we somehow work through trillions of excess liquidity provided by the Federal Open Market Committee, writes the Chairman of Whalen Global Advisors.

The post-close review timeline gets shorter and new pre-funding checks become required on Sept. 1.

A 2018 report laid the groundwork for the Biden administration's push to root out discrimination in home valuation. A counter study says no such practices exist.

The watchdog accuses the mortgage shop of providing illegal incentives to real estate brokers and agents, such as cash payments, paid subscription services, and catered parties, in return for purchase business.

Some respondents reprised calls for a return to more flexible capital rules and portfolio-level cross-subsidization. Others see danger in such a move.

The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.

Offices impacted are located in Chicago, Cincinnati and Kansas City, a company representative said Wednesday.

Federal Reserve officials are more seriously discussing the possibility that they may not have to stop shrinking their massive balance sheet when they begin cutting interest rates, a readout from their most recent policy meeting showed. 

The Federal Housing Finance Agency is adding advanced models that include rental payment histories and trended data, but others tap cell phone or consumer-permissioned bank data.

But a surge of the 30-year conforming rate to a high last seen in 2001 helped drive overall borrowing lower, even as buyer interest in government-backed products grew, the Mortgage Bankers Association said.

Removing such debt information from consumer reports generated an uptick in home loan inquiries in one study and other industries have found advanced score use pays off.

The verdict ends a decade-long lawsuit over the Federal Housing Finance Agency's amendment to a stock repurchase agreement in 2012.

The Consumer Financial Protection Bureau plans to propose rules to require that data brokers comply with the Fair Credit Reporting Act to limit data from being sold for any reason other than what Congress has specified as having a "permissible purpose," such as credit underwriting.

Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.

BofA's fintech accelerator launch and Guaranteed Rate's new insurance offering via a brokerage spinoff are among the latest fintech stories.

The matter stems from 2006 and 2007 and related to the issuance, underwriting and sale of the securities, UBS said in a statement Monday.

But that was offset by a decrease in most other residential construction materials, the National Association of Home Builders said.

This first step in updating borrower assessments was seen as the easiest and could reduce costs, but stakeholders fear change that reduces data inputs.

The business combination is anticipated to occur on or about August 22, and trade under the symbols BETR and BETRW.