Organization Root Tag

Housing finance organizations argue that these companies are relatively small, and allowing other agencies to be the first line of defense has worked.

Also, Cenlar welcomes client management leader, NFM promotes influencer-marketing executive and Guzzo & Co. hires transgender chief operations officer.

The Columbus, Georgia, bank is selling a $1.3 billion portfolio as part of a plan to pay off higher-cost funding. Though there are rising concerns about the office sector, Synovus said the loans it's offloading have pristine credit quality.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, weighed in on credit card late fees, an upcoming open banking rulemaking and the chaos that could result if the Supreme Court defunds the agency.

The Consumer Financial Protection Bureau celebrates its 12th anniversary on Friday, prompting Director Rohit Chopra to discuss the agency's work including a proposal to set credit card late fees at $8 and the upcoming Supreme Court case that could defund the bureau.

Declining rates contributed to a surge in refinances, but a sluggish market is capping purchase activity, according to the Mortgage Bankers Association.

The nearly 8% growth on a seasonally adjusted annualized basis is well above the historical average, according to the government-sponsored enterprise.

The share of homeowners late by 30-59 days got slightly higher but remained below 1%, according to the Federal Housing Finance Agency.

Consumer Financial Protection Bureau Director Rohit Chopra will engage in informal talks with Didier Reynders, the European Commission's commissioner for justice and consumer protection, on artificial intelligence, buy now/pay later and digital payments.

Even though the price of softwood lumber has climbed up by more than 7% in the last three months, it sits 21% below its level from a year ago.

By "going big" in 2020, the Federal Reserve has managed to disrupt the term structure of interest rates to an alarming degree, writes the Chairman of Whalen Global Advisors.

Both the plaintiffs and the bank filed a motion for the federal court to reconsider the settlement, which was reached in mid- 2022, but the judge responded that neither party articulated "sufficient reasoning to meet the high bar."

A decline in refinances was offset by a rise in purchase loans, largely among government-guaranteed programs, according to the Mortgage Bankers Association.

The Mortgage Bankers Association attributes this to muted demand for home purchases and companies trimming their operations.

Nearly all Fed participants support additional increases in interest rates in 2023, with the Federal Reserve Bank of Atlanta President as an exception who has called for holding steady for the rest of this year and "well into 2024."

The proposal would bring companies cited for civil enforcement actions under its scope to bar them from doing business with the government-sponsored enterprises.

Also, Fannie Mae on climate risk and a non-QM product lenders are loving right now.

In their latest assessment of the bond market outlook, Morgan Stanley strategists are challenging the former head of the Federal Reserve Bank of New York's view that losses are likely to deepen.

A vast majority of the pool, 86.35%, consists of primary homes. Investment properties and secondary homes, meanwhile, account for 11.29% and 2.36% of the collateral.

Wells Fargo directed its bilingual team to steer customers away from products with no closing costs toward "predatory lending options" without disclosing the costs, in part by refusing to provide Spanish-language written materials, according to the complaint.