Subject Root Tag

Among its major accomplishments in the past year were an update to its Reference Model, the foundation for most of its standards.

The embattled crypto-service bank got a lifeline of liquidity in the fourth quarter of 2022 from the Federal Home Loan Bank System, raising new questions about both the Home Loan banks' purpose and crypto contagion.

A spokesperson confirmed that close to 20 positions were terminated due to a "reorganization" but denied that there are plans to eliminate more jobs.

In remarks delivered at a central banking symposium, Federal Reserve Chair Jerome Powell called for changes to money market funds and the Treasury market.

Northpoint's description of insider wrongdoing as cause for its November security leak is a rare admission of the type of cyberattack a mortgage firm has suffered.

MSR trading is picking up a little from its seasonal lull but values may not get as high as they did last year, some experts say.

The U.S. Supreme Court turned away four appeals from shareholders of the government-sponsored enterprises who said they were entitled to compensation after the Treasury collected more than $100 billion in profits from the government-sponsored enterprises.

Significantly fewer households expected to be in worse shape in the coming year than was the case last summer, according to a December survey. The results are a positive sign for banks at the start of earnings season.

Declining mortgage rates and home prices drove more positive views compared to the prior month, but December's overall outlook remained negative, Fannie Mae said.

The Arizona-based lender has been in business for 35 years and has branches in over 20 states.

The plaintiffs allege that the banks did not catch obvious red flags or implement proper safeguards such as requiring two employees to approve each transaction.

In recent weeks, Miami-based Lendmarq has swept up more than a dozen staff members.

However, the jobs picture for December was better than what was expected, the Bureau of Labor Statistics data found.

In a Jan. 1 reshuffling the mortgage giant also promoted its former wholesale chief to chief revenue officer of Rocket Mortgage.

The impact of a weakening economy on quarterly performance will become clearer by the second week of January as banks begin to report fourth-quarter earnings.

The sector is not immune to the same economic instability that affects the single-family residential market, the Mortgage Bankers Association said.

Other investors could step into the breach as depositories depart, and the strain on nonconforming borrowers might not be that bad, recent forecasts suggest.

However, trackers from Optimal Blue and Zillow found that rates moved in line with the drop in the 10-year Treasury yield.

Federal Reserve Bank of Kansas City President Esther George said the central bank should raise its benchmark interest rate above 5% and hold it there well into 2024 to bring inflation down.