Banking

Of the five banks that failed their living will tests earlier this year and were forced to resubmit plans, only Wells Fargo failed again, resulting in immediate regulatory action that will restrict its growth, including its ability to expand internationally and buy nonbank subsidiaries.

Fairway Independent Mortgage Corp. is rolling out a new mobile application that allows consumers to apply for a loan, scan documents and get updates on their loan status through real-time push notifications.

A group of traders in JPMorgan's investment bank has expanded from selling commercial mortgage-backed securities to underwriting loans that are unsuitable for bonds, such as those for big construction projects.

Ally Financial is now making home loans.

The Mortgage Industry Standards Maintenance Organization is proposing a standard for the maintenance and sharing of commercial and multifamily real estate rent-roll information.

A flood of fintech companies are promising to create a better experience for mortgage borrowers, forcing lenders to contemplate buying a vendor's software, building applications in-house — or even outright acquiring a company with digital expertise.

A California bank is planning to add mortgages and home equity lines to its product set.

SAN FRANCISCO — Want to improve the customer experience? Start by making the employees' tools better.

Digital mortgages are not an idea for the future; they are here to stay, and the mortgage industry must put aside its misplaced fear of technology and change and embrace them.

Banking and credit union trade groups are urging Congress to consider repealing any upcoming Consumer Financial Protection Bureau rules governing arbitration, payday lending, debt collection and prepaid cards by using its authority under the Congressional Review Act.

Construction loans are a big source of interest income for community banks but also carry a lot of risk. A few fintech firms say their platforms can reduce the risk and improve the lending process.

Employment in the nondepository mortgage lenders and brokers sector grew for the fifth straight month, according to the Bureau of Labor of Statistics.

The multifamily construction boom may finally be coming to an end as leasing of new units has slowed and lenders are becoming more cautious.

Many big banks are backing away from the retail channel and FHA lending due to rising compliance costs. But U.S. Bank Home Mortgage President Tom Wind sees an opportunity to leverage those challenges to improve efficiency and transparency.

The election results will only intensify factors making competition with bank lenders more difficult, including the effect of interest rates as well as the regulatory environment.

Tom Wind is once again leading a large bank's mortgage operation. As the new president of U.S. Bank Home Mortgage, he's set a course that embraces retail, regulation and the FHA.

The pending purchase of Carlile Bancshares will lower Independent's concentration in commercial real estate, while introducing the company to fast-growing markets in Texas and Colorado.

First Community Mortgage has added six loan products to its menu, each targeted to borrowers who are not eligible for a conforming or government mortgage.

Sen. Elizabeth Warren, D-Mass., sharply criticized President-elect Donald Trump's transition team on Thursday, saying he has reneged on his promises to "drain the swamp" and instead has put "swamp monsters" in charge.

Franklin Financial Network in Nashville, Tenn., is raising capital after being flagged by regulators for its exposure to commercial real estate.