Banking

The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives.

The House vote moved a sharp reduction in the corporate tax rate for banks and other businesses to within a few steps of becoming law.

Residential and commercial property tax delinquencies are slightly higher in the Northeast and South than in the Midwest and West, but improving economic conditions are keeping the national delinquency rate in check.

The $280 million securitization is also expected to boost capital levels and lower Dime's loan-to-deposit ratio.

The executive tasked with reshaping Wells Fargo's embattled retail banking unit will now also be responsible for mortgage, auto and student lending.

With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause.

UBS Group AG's head trader for commercial mortgage-backed securities denied claims of trying to influence research reports published by the Swiss bank's former senior strategist for those products.

The risk to Canada's financial system from tapped-out borrowers is merely shifting — this time to a market where there's no oversight from the country's national bank regulator and new stress-test rules don't apply.

Freddie Mac is broadening its capital markets vehicles with its first offering of participation certificate securities backed by multifamily tax exempt loans.

The company will pay $186 million for First Bank Lubbock in a deal that also includes mortgage unit PrimeWest Mortgage.