Subject Root Tag

The Department of Justice reached a $9 million settlement Wednesday with Westerly, R.I.-based Washington Trust over race-based lending discrimination and redlining in the state, saying the bank denied lending services to Black and Hispanic neighborhoods from 2016 to 2021.

The Consumer Financial Protection Bureau issued a mortgage report based on statistics from 2022 and is looking for ways to simplify the refinance process while considering changes to mortgage servicing standards.

The rise in rates — 10-year Treasury yields are up over a percentage point since mid-May — is one of a series of shocks buffeting what's been a surprisingly resilient economy.

The indictment of Sen. Bob Menendez, D-N.J., is inconvenient for some Democratic priorities, but unlikely to impact a cannabis banking bill up for debate in the Senate Banking Committee.

Since the start of the year, values have pushed upward at a marked pace, separate reports from the Federal Housing Finance Agency and S&P CoreLogic Case-Shiller declared.

A New York judge ruled Donald Trump is liable for fraud for exaggerating his net worth by billions of dollars a year on financial records submitted to banks and insurers, a major victory for the state's attorney general before a high-stakes civil trial over remaining claims in the case.

The total value of U.S. housing rose more than $2.6 trillion in the past year, Zillow said, defying predictions that higher borrowing costs would lead to a prolonged slump.

The triple threat of tight supply, elevated prices and historically high mortgage rates continues to weigh on sales, even as home builders are offering incentives to potential buyers.

ACI Payments already agreed to pay a $25 million federal fine and fund a $5 million settlement to resolve seven class action consumer lawsuits when it accidentally triggered mortgage payment withdrawals.

Reluctance to eliminate staff with the hope that business will turn around has been a driver of the multiple quarter stretch of industry losses, its latest study of mortgage lenders found.

CrossCountry Mortgage, American Pacific Mortgage and Fairway Independent Mortgage run their shops this way.

Credit ratings were cut on the highest number of commercial mortgage-backed securities in "recent memory" last week, according to strategists at Bank of America Corp.

Georgia United Credit Union is collaborating with the income-verification fintech Argyle to combat submissions of false documents and other crimes.

Banks need to — and can — take steps to manage the phenomenon, first defined by a Japanese academic in the 1970s, where artificial intelligence looks, feels or sounds human and gives customers a creepy feeling, experts say.

While individuals are piling into cash, for many portfolio managers the debate now is about how far to go in the other direction.

Ronald Leonhardt Jr. pocketed a $7 million profit on the property.

Sculptor said it prefers a deal with Rithm Capital Corp. even though the Weinstein-led bid is higher than the one from the once-obscure real estate investment trust. 

Serious delinquencies remain on the decline, but an increase took place in more recent buckets of 30 and 60 days.

A combination of economic and environmental factors are sending property and flood coverage premiums soaring, which can make costs insurmountable for some.

The report comes from Federal Housing Finance Agency Inspector General Brian Tomney's office, which also is keeping an eye on turnover risks at the government-sponsored enterprises.