Commercial banking

Fifth Third Bancorp revised its guidance, but still expects record net interest income for 2025, even as commercial clients signal that economic volatility will drive up inflation.

The 30-year fixed rate mortgage average rose 21 basis points this week, lagging other indicators, which are all now lower than seven days ago.

Ligation by the Ohio attorney general claims UWM has turned brokers in its network into retail loan officers who solely work for the company.

The super-regional bank cited "a material slowdown" in investment banking and trading income as one reason for the lower revenue forecast. Interest rates are also a factor, executives said.

John N. Vitucci is a partner and ESOP practice leader at PKF O'Connor Davies. He has more than 30 years of experience working with Fortune 500 corporations, private businesses and investment banks in all areas of employee benefits, executive compensation and ERISA. He is currently an adjunct professor at Columbia University where he teaches pensions and ERISA and oral communications for actuaries in the Actuarial Masters Program.

Housing starts in the US fell in March by the most in a year, as weak demand from high prices and mortgage rates gives builders little confidence to break ground.

In a post on his social media platform Thursday morning, the president criticized the Federal Reserve's reluctance to lower rates and said the chair's departure "could not come soon enough."

Clear regional differences appeared in the average tax amounts owed across the U.S., with residents of one state seeing five-figure sums, Attom said.

The Consumer Financial Protection Bureau and Townstone Financial, a Chicago mortgage lender that it sued in 2020, jointly asked a federal court to vacate a settlement, saying the case should never have been filed.

The Federal Housing Administration has accelerated the timeline and will make the wait time for repeat home retention requests longer than originally planned.