Banking

Wells Fargo & Co. surprised investors this week by withholding more than $90 million due to buyers of pre-crisis residential mortgage-backed securities.

From the largest banks to the smallest independents, policymakers want to hear the mortgage industry speak with one voice in the critical efforts to reform the government-sponsored enterprises.

Angel Oak was able to secure triple-A credit ratings for its next offering of nonprime residential mortgage bonds, despite offering considerably less credit enhancement.

Executives at four former credit repair companies agree to pay $2 million for charging consumers millions in illegal advance fees.

Mexico's decision to reduce imports of soybean meal, corn and chicken has put more pressure on certain farmers, while creating another situation for lenders to monitor.

The NCUA is letting federal credit unions securitize and sell assets. Such transactions would free up capital at credit unions, allowing them to make more loans.

Corporate One FCU has teamed up with San Francisco-based Roostify to provide CUs and CUSOs with a streamlined digital mortgage platform.

The company will also gain its first branches in New Mexico after it buys Peoples Inc.

Granite Point Mortgage Trust priced its initial public offering at $19.50 per share, which was below the $20 to $21 range the company expected.

Over 45% of the borrowers the collateral pool have FICO scores above 760, compared with just 36.42% in the marketplace lender's most recent transaction, completed in May.

The Financial Choice Act contains many positive reforms for community banks, but a provision affording benefits for holding loans on balance sheet poses risk for small lenders.

For Democrats, the scandal is a prominent symbol of big-bank misbehavior, while Republicans want to use it to show the shortcomings of the CFPB.

Granite Point Mortgage Trust is selling 10 million shares of common stock in an initial public offering to be priced between $20 and $21 per share.

The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.

Fed Chair Janet Yellen called the Treasury's report a "complicated document" that shared many of the central bank's objectives, including reducing regulatory burden without sacrificing safety and soundness.

While the courts have affirmed cities’ right to file predatory lending suits, they are also now holding them to a much higher standard in proving that banks knowingly steered minority borrowers into high-cost home loans.

Casey Crawford, head of the rapidly growing Movement Mortgage, recently recapitalized First State Bank in Danville, Va., with his own money.

The Treasury Department published its first report on regulatory reform, offering some familiar industry asks alongside some surprising positions.

The HUD secretary said millennials are being shut out of the market but the purchase of a condominium unit is often the first step to homeownership.

The House passed a bill that assigns Qualified Mortgage status to loans that banks hold in portfolio.