Banking

Stephen Calk, the CEO of The Federal Savings Bank, expedited approval of a mortgage to the onetime Trump campaign chair in hopes of winning a job as Treasury secretary or housing secretary, a former bank employee testified Friday.

Wire and other payments fraud affected a record number of businesses last year, and the FBI is warning in particular about real estate scams.

An increase in millennials making home purchases is a call to the mortgage industry for a quicker, more efficient digital process.

A ruling involving a Cleveland law firm casts doubt on CFPB claims that attorneys misrepresent their role to consumers.

Wells Fargo is considering a sale of commercial real estate broker Eastdil Secured, according to a person briefed on the matter.

Five potential witnesses against Paul Manafort, including accountants and bankers, were identified Monday as a U.S. judge gave the former Trump campaign chairman's lawyers more time to review tens of thousands of documents handed over to them in recent weeks.

The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income.

American Mortgage Consultants has acquired the right to hire 50 employees from The Barrent Group and will add 150 more in response to increased private-label securitization.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.

Debates on the issue often focus on how lending decisions affect certain demographic groups, but those analyses tend to ignore an important factor: default rates.

Servicers and MSR investors face increased regulation and oversight as nearly all states now require some form of licensing for firms responsible for mortgage collections.

The nominee to run the consumer bureau endured tough questioning over the administration’s family-separation policy but appeared to weather the barrage.

Other aggregators came to the bank's defense, while one CEO suggested Plaid's very public protest was unfounded.

As part of a capital-formation bill, House lawmakers are attempting to sprinkle in a handful of provisions to ease the industry’s burden.

Bank of America's residential mortgage origination volume fell short of last year's in its second-quarter earnings despite gains from digital sales and seasonal home buying, and broader consumer lending strength.

Strong demand for business and multifamily loans, combined with double-digit growth in wealth management revenues, more than offset rising expenses.

Mortgage fees at the nation’s biggest home lender declined by a third in the three months ended June 30 to the lowest in more than five years.

Senators at a hearing Thursday discussed a bill establishing an online portal for consumers to monitor their credit reports free of cost.

The average millennial borrower credit score remained unchanged in May, but values by city painted very different pictures, according to Ellie Mae.

Level One Bank in Farmington, Mich., has hired a team of mortgage bankers from MB Financial, which previously announced it was shutting down this business line.