Banking

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions.

Low mortgage rates are setting the stage for growth, not just in refinancings, but in purchase volume as well during 2020, according to Ellie Mae.

Alexander most recently headed up mortgage lending and before that co-led the integration of Key's acquisition of First Niagara. He replaces Dennis Devine, who recently left the company.

While boosting origination volume for lenders and providing financial benefits for borrowers, the refinance boom could have adverse effects down the road, according to TransUnion.

Mike Weinbach will lead consumer lending as part of a reorganization that will change the responsibilities of three longtime bank executives.

Mortgage delinquencies dropped to a 40-year low in the fourth quarter as strong employment bolstered borrowers' ability to make timely payments, the Mortgage Bankers Association said.

Despite a drop in multifamily loan volume, industrial, health care, office and retail originations pushed overall multifamily and commercial mortgage lending to unprecedented heights, according to the Mortgage Bankers Association.

Simon Property Group agreed to buy rival shopping-mall operator Taubman Centers for about $3.6 billion, a combination that comes as e-commerce continues to roil brick-and-mortar retail.

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

The credit union service organization Member Driven Technologies has a laid-back work environment but works hard to translate its internal culture to employees who may be located hundreds of miles from headquarters.