Organization Root Tag

With few clues coming from Federal Reserve officials about their next moves, the 30-year average dropped for a fourth straight week, according to Freddie Mac's latest survey.

Recent deposit flows raise questions about the Fed's support for these funds through its overnight lending facility, and whether that support is doing more harm than good.

The Cleveland Fed chief said she expects to make "some appreciable progress" toward taming price pressures in 2023, and estimates a closely watched gauge of inflation will reach 3.75% by the end of the year.

The agency added increased emphasis on loss mitigation and special purpose credit programs following heightened calls for more participation in the latter from a minority trade group.

The cost and scope of data sharing were among bankers' top complaints, while fintechs would like fewer restrictions, a report by the Consumer Financial Protection Bureau found. 

Per the settlement, the board of directors will expand its headcount to nine, opening the door to include Steve Ozonian, CEO of Williston Financial Group.

The falloff in government-backed applications outpaced the overall decline, with volume down by over 8%, the Mortgage Bankers Association said.

Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.

Throughout 2022, the California bank shed interest rate swaps that some believe could have prevented its failure.

The inspector general linked the problems to staff turnover and recommended improvements to policies around documentation that the housing agency agreed to make.

Past disclosures about the lender's numbers aren't in question but its acquirer's are, according to new filings.

Purchase applications increased again, but changes in home prices and interest rates are bringing only limited affordability relief.

Companies like U.S. Bancorp have found ways to apply the information they use to serve thin-file applicants to small-business owners and other borrowers.

The share of women property holders fell four percentage points from the prior year, according to Zillow

The Federal Reserve wants a smaller balance sheet to help rein in inflation. But uncertainty in the banking system is pushing it in the opposite direction.

The agency, which oversees government-related investors that set underwriting parameters in the U.S. mortgage market, estimates the process will begin in 2024.

As application volumes increased, loan sizes also surged, with average purchase amounts now at a 2023 high, according to the Mortgage Bankers Association.

Economists have warned since last summer that speedy monetary tightening could be destabilizing. This week, the Federal Reserve will decide whether to stay on that course.

In prepared remarks to the American Bankers Association, Treasury Secretary Janet Yellen says the government's intervention to cover uninsured deposits at Silicon Valley and Signature banks "reduced the risk of further bank failures."

The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.