Banking

Community banks and credit unions fear a Senate plan and other legislative ideas will nullify steps taken by Fannie Mae and Freddie Mac that have made it easier for smaller institutions to compete.

Bank of Marin CEO Russ Colombo is tightening up pricing and terms, citing soaring real estate prices in markets like San Francisco.

The Seattle company has a letter of intent to sell its home loan centers to Homebridge Financial Services.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.

Some companies on SourceMedia’s Best Fintechs to Work For list offer their employees extra time off to live boldly.

Three years ago, the New York-based fintech started organizing a monthly gathering for its female employees. The meetings have helped participants find role models.

Fewer mortgage borrowers are falling behind on their payments, and consumers' broader borrowing habits indicate an increased willingness to turn to nontraditional sources like fintechs for their lending needs, according to TransUnion.

The federal banking agencies will not hold a hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.

Credit card issuers would have to set aside more in reserves because of higher loss histories, according to research by Keefe, Bruyette & Woods on the impact of the new loan-loss standard.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.

Bridgeview Bancorp floated its name with 14 potential buyers, but it only attracted serious interest once it promised to divest a mortgage business that recorded a double-digit decline in fee income last year.

Recent data from the Federal Reserve suggests lenders are growing pessimistic about the credit environment. But is that a sign of trouble ahead, or just sound risk management?

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.

Refinance volume slipped following growth in mortgage rates, and loans refinanced through the Home Affordable Housing Program barely made a dent in overall volume, according to the Federal Housing Finance Agency.

Mortgage delinquencies in the fourth quarter were at their lowest level in nearly 19 years, helped by wage growth, low household debt and low unemployment, the Mortgage Bankers Association said.

The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.

The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.

If the government insists on forcing another shutdown, business owners are intent on letting Congress know how much the last one hurt.