Banking

The company is facing criticism after a big chargeoff on two properties, showing that investors have little patience when a risky business model shows signs of distress.

New York developer Silverstein Properties Inc. built a $4 billion pipeline of real estate deals just weeks after starting. None of the money was for buildings it will own.

The Providence, R.I., company reported a 27% gain in profits thanks partly to a boost in fee income from its purchase of Franklin American Mortgage in August.

The Portland, Ore, company also benefited from lower expenses and an improved efficiency ratio.

Proposition 10 would give local jurisdictions a freer hand to restrict rents, but critics say that would lead to property devaluations. Some see an effect regardless of whether the measure passes.

Millennials are targeting homeownership within the next few years, but many are buying into certain house-purchasing myths, according to Bank of America.

The Office of the Comptroller of the Currency lowered the $14 billion-asset thrift in Cleveland to “needs to improve” from "satisfactory."

August's share of conventional mortgages closed by millennials reached a three-year high as lenders added products to meet their lifestyle, Ellie Mae said.

Bank of America is taking what consumers are accustomed to on the banking side and applying that to its lending division to offer a consistent digital experience, says John Schleck, the bank’s senior vice president.

The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections."