Banking

Freddie Mac issued its first non-low-income housing tax credit forward commitment, providing financing for an affordable housing development in Minnesota.

The cost of Wells Fargo's scandals continues to rise as regulators from all 50 states forced the institution to pay hundreds of millions in penalties for the creation of fake accounts, improper enrollment in life insurance, force-placed auto insurance policies and other activities.

The industry could see a boost in mortgage lending from regulatory changes, but other factors may slow growth.

The biggest question is whether new CFPB Director Kathy Kraninger will deviate from the pro-industry policies of her predecessor, or bring continuity.

Rep. Maxine Waters, D-Calif., will take the gavel on the Financial Services Committee next term.

Cash-strapped lenders need to find a way to consistently fund marketing that resonates with more cultures if they really want to be able to replace lost volume by reaching underserved borrowers.

Many servicers expect their Federal Housing Administration mortgage portfolios to grow in the next year or two, and that increase could coincide with an uptick in delinquencies, warns Altisource Portfolio Solutions.

Selling $1.6 billion in mortgages, and paying off a similar amount of wholesale borrowings, will allow the company to expand its net interest margin in 2019.

Mortgage prepayment speeds fell to their lowest level in 10 years in November as rising interest rates took a toll on origination activity, according to Black Knight.

Maria Vullo is stepping down as head of New York's banking and insurance regulator after three years in which she created a national model for cybersecurity regulations at banks and fought back against federal attempts to chip away at payday-lending rules.