Organization Root Tag

The San Francisco-based bank — which regulators seized and sold to JPMorgan Chase early this month — was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse.

This summer, the Department of Veterans Affairs will introduce a new kind of a "last-ditch effort" to keep veterans in homes, by making servicers whole and putting the delinquent borrowers on an exclusive interest rate.

The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.

The 30-year conforming average reached its highest point since March last week, while loan application volumes finished 35% below their levels from a year ago, a trade group said.

Single-family officials at an industry conference also quantified some of the progress they're making with alternative credit data, and noted that digital validations can help reduce defects.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.

The investor segment will have to be mindful as it gains ground, executives said Tuesday, noting that the sector takes experience, skill and savvy awareness of risks.

Only an act of Congress can allow the lenders to become members, two bank presidents emphasized.

Some stakeholders have worried about the estimated date for the transition to a new way of calculating credit worthiness, but an official assured attendees at an industry conference that the agency won't act prematurely.

The Enterprise Regulatory Capital Framework is going to dramatically transform Fannie Mae and Freddie Mac pricing in ways the industry hasn't begun to contemplate, writes a former senior policy analyst at the FHFA.

JPMorgan bought First Republic Bank earlier this month after it became the second-largest bank failure in U.S. history and the fourth regional-bank collapse this year.

The Trump administration official announced that she will step into the role of senior adviser to the House Financial Services Committee.

Federal Reserve Bank of New York President John Williams says there is no evidence that the COVID-19 pandemic has ended the era of very low interest rates experienced before the crisis, although growth may be slower in the long run.

The Federal Reserve chair waved off suggestions that recent bank failures demonstrate a need to better separate its authorities. He also noted the importance of clear communication by central bank officials.

The Mortgage Bankers Association sees the likelihood of a rise in sales activity later this year based on recent construction trends, in a turnaround from the 2022 market.

The FOMC meets June 13-14. Join us June 15 at 2 p.m., Eastern time, as Jeffrey Cleveland, chief economist at Payden & Rygel, provides his take on the meeting statement, Federal Reserve Board Chair Jerome Powell's press conference and the latest Fed projections.

The 30-year conforming rate surged to its highest point since March, driving borrower activity downward, the Mortgage Bankers Association said.

The bank is working with The Clearing House and real estate tech company EMTransfer and is hoping to cut paper and time from the process of selling property.

The case involves a house seized for a tax debt — but the state pocketed the profits.

Comments from Federal Reserve Gov. Michelle Bowman last week show that supervisory reforms outlined by the Fed's top regulatory official could meet significant opposition, policy analysts say.