Banking

Growing home prices and climbing interest rates didn't stop millennials from buying houses in October, Ellie Mae said.

The performance of loans included in commercial mortgage-backed securities improved for the fifth consecutive quarter, with delinquencies down 179 basis points over the time frame, according to the Mortgage Bankers Association.

Private-label residential mortgage-backed securitization is approaching a post-crisis high, according to Kroll Bond Rating Agency.

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter.

The Federal Savings Bank is trying to persuade a judge to look beyond its CEO's alleged complicity in a fraud perpetrated by President Trump's former campaign chair.

Kathy Kraninger, who may get a confirmation vote as early as this week, has suggested a similar vision to that of the agency’s current acting chief. But some see signs she could bring a different approach to the job.

October's loan delinquencies, especially those in serious delinquency, got much healthier after improving from the fallout of the last two hurricane seasons, according to Black Knight.

Minorities are still charged more for mortgages when all other applicable credit factors are equal — both in person and online, according to a new study by the University of California, Berkeley.

Average credit scores for mortgage borrowers remain at a 2018 high, a sign that lenders aren't easing standards despite refinance candidates already falling off on higher rates, according to Ellie Mae.

The effort to raise the threshold for transactions excused from appraisal requirements responds to concerns that the current threshold is outpaced by real estate prices.

Carrington Mortgage Services has created a nondelegated correspondent channel, looking to build on relationships it has with originators that currently broker loans to the company.

Subprime originations are climbing in multiple consumer loan categories, including mortgages, but the increase is much smaller in the home loan sector than it is in other markets, according to TransUnion.

The move allows the New York multifamily lender to make more loans without having to raise capital.

As interest rates rise, mortgage originators need to teach millennial homebuyers about the product options outside of conventional loans, Ellie Mae said.

Online personal lending pioneer Prosper is developing a home equity line of credit product that it will offer in partnership with banks. The embrace of traditional depositories marks a departure from fintech lenders that typically seek to disrupt and displace legacy institutions.

The bank recently notified an upstate New York man that he was wrongly denied a mortgage modification, and enclosed a $25,000 check. But details of what went wrong have been hard to come by.

The mortgage delinquency rate dipped to a 12-year low, but overvalued housing markets and eventual reversal in the unemployment rate present risk for future delinquencies, according to CoreLogic.

Mortgage delinquencies inched up, in part from natural disasters hindering homeowner performance, but a stronger economy is still keeping defaults low, according to the Mortgage Bankers Association.

The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.