Federal Reserve

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.

Fed economists are suggesting a new mortgage product that would allow home buyers to build equity faster and give banks incentive to profitably hold the loans in portfolio.

Mortgage rates dropped to a year-to-date low for the third consecutive week as the 10-year Treasury yield also declined, according to Freddie Mac.

Loan application defects were unchanged for July compared with June, the first time in eight months there has not been an increase, according to First American Financial Corp.

The Fed's order noted that Sterling had clarified errors in its Community Reinvestment Act data before receiving a "satisfactory" rating from the OCC.

Mortgage rates fell to a new low for the year this week, but are 38 basis points higher than they were one year ago, according to Freddie Mac.

Federal Reserve Chair Janet Yellen defended post-crisis reforms but allowed that further adjustments may be necessary to reduce adverse effects on small businesses and subprime borrowers.

A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.

Mortgage rates continued to move lower as a result of economic uncertainty, according to Freddie Mac.