Special Program Root Tag

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The potential expansion of credit scoring models and the handling of post-foreclosure sales are just some of the issues at hand.

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA's Research Institute for Housing America.

The two megabanks said that their capital requirements will rise in the wake of Federal Reserve stress tests, putting downward pressure on their distributions to shareholders. Meanwhile, Bank of America, Wells Fargo, Goldman Sachs and others announced plans to raise their dividends.

Hafize Gaye Erkan, whose surprise departure from First Republic Bank disrupted the lender’s succession plans earlier this year, will become chief executive officer of Greystone as the closely held commercial-property lender expands into wealth management and private banking.

Recent remarks from Federal Reserve Chair Powell suggest more upward movement is ahead.

Several Democratic bills to support down-payment assistance for mortgage borrowers and other housing programs met with protests from Republicans, who said the legislation would further fuel inflation. The GOP maneuvers failed, but they highlighted the parties’ differing priorities ahead of the midterm elections.

The Federal Reserve has started a hiking cycle that's expected to continue with half-point increases in June and July, Marvin Loh, senior macro strategist at State Street Global Markets, will assess the June Federal Open Market Committee meeting and tell what he expects the panel to do in the future.

Depreciation risk in parts of New Jersey, Illinois and California is growing, according to a first quarter analysis by Attom Data Solutions.

While compliance specialists will be in demand, loan producers will see their roles change to encompass responsibilities that include more marketing and client development.

But even with bidding wars on the decline and inventory increasing, listing prices continue to creep up.

In response to a raft of recent data breaches, mortgage lenders are implementing a number of measures to protect their clients and themselves.

Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.

The Consumer Financial Protection Bureau sent a mass email to thousands of the bank's customers and former employees to gather information about the possible creation of phony accounts. Critics — including a federal judge — say the CFPB asked leading questions and may have overstepped its bounds.

Direct-to-consumer may not fare as well going forward if a purchase market prevails, and some cross-pollination between depositories and nonbanks could occur.

Cuts on one side of the business are creating a ready-made, knowledgeable pool of workers for servicers as demands on the latter's operations are increasing.

Until employers rethink their policies and benefits, the challenges of the Great Resignation on businesses and employee well-being will persist.

Federal prosecutors in Manhattan are investigating the bank over allegations that it conducted so-called fake interviews with nonwhite and female job applicants, The New York Times reported Thursday.