Subject Root Tag

The Los Angeles bank, which disclosed the layoffs in a securities filing, is undergoing a broader restructuring under its new CEO. The bank expects $30 million to $40 million of savings per year from the job cuts.

Despite a likely recession, researchers at the government-sponsored enterprise revised volume forecasts upward for both 2023 and 2024, while originators also entered the year expecting their business to improve.

As one of the latest examples of consolidation in the industry, the acquisition is notable in that it aims to preserve the availability of lending resources for both parent companies' customers.

Contract closings slipped 0.7% at the start of the year to an annualized pace of 4 million, according to data from the National Association of Realtors on Tuesday.

The Consumer Financial Protection Bureau has asked the high court to overrule a lower-court decision that threatens its funding structure. The justices didn't accept the case on Tuesday, but experts say it could still make the cut in the coming week.

U.S. government bonds slid across the curve, with the 10-year rate heading for the highest close since Nov. 9.

This represents a gradual rise in activity, not the tsunami that many feared would take place as COVID-era moratoriums wind down, Auction.com said.

Community Financial Credit Union is partnering with the hosts of "Bargain Block" to renovate low-cost homes and help prospective buyers qualify for their first mortgage.

Only about $4.27 billion of the bonds have been issued so far this year, down from $29.38 billion at this same point last year, according to data compiled by Bloomberg based on deals without government backing.

The biggest gaps are in cities with the largest concentrations of people in this demographic, a LendingTree study of the 50 largest metro areas found.

Interest rate increases and economic concerns led the government entity to lower the required amount from $1 million to $250,000.

The majority of borrowers cite a national emergency declaration, but the share that do has been dropping as concerns about income, debt and unemployment creep up.

The government set forth five principles companies should follow when they use artificial intelligence. Chintan Mehta, CIO of strategy, digital and innovation at Wells Fargo, shares how one of the largest banks does it.

Brady Torgerson, former president of First Security Bank-West, was sentenced to two years in federal prison after pleading guilty to fraud at two banks.

But the company expects positive margins in the first quarter from Bay Equity Home Loans and increased cross-sell capture from real estate agents.

Indicators reflect declines in consumer expectations and factory orders that underscore risks of a recession. 

Single-family property sales ran at a seasonally adjusted annual rate of 725,000 units last month, a 13.1% increase from December.

The lender paid workers in commissions, and failed to provide a minimum wage over pay periods in which no loans were originated, counsel alleges.

The 51 basis point increase was inevitable after the late payment rate reached a record low in the third quarter, the Mortgage Bankers Association said.

Despite slowing originations, the shift to a purchase-oriented market contributed to growth, while outstanding HELOC amounts also surged to its largest in over a decade, the Federal Reserve Bank of New York found.