Banking

The city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions.

With steady home price appreciation and falling interest rates, by some measures the shares of distressed mortgages existing in the market shrunk to record lows, according to Black Knight.

Default rates for prime jumbo mortgages will increase, but a strong economy and rising home prices will bail most borrowers and lenders out, Moody's said.

Negotiations went to the brink of a foreclosure trial for a Bradenton, Fla., mall, before a settlement was reached between the owners and the lender.

No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.

A bank, a drug store, another bank: Odds are, a stroll down a random Manhattan avenue devolves quickly into a retail snoozefest.

FICO plans to release a new suite of scores that could reduce defaults on newly originated mortgages by 17%, but home lenders may not use it unless the government-sponsored enterprises do.

Non-QM lending is expected to grow again in 2020, but it has some obstacles to navigate. Altisource CRO John Vella shares his insight into the sector and other hot topics.