Economy

The digital transformation of payments has reached its next phase — with banks and fintechs leading the way. Avoiding the one-size-fits-all approach to deliver the experience customers want is key.

Loans bought on the secondary market have become increasingly important as borrower demand has ebbed and companies have sought to obtain mortgages through additional outlets to maintain production levels.

The head of the Federal Reserve appeared to support Congress’s expanding the scope of the Community Reinvestment Act to unregulated institutions, just as regulators weigh how to modernize the framework for banks.

The unusually strong production numbers seen in the first quarter of this year show loanDepot is emerging as a contender in the battle for loan volume and market share amid an industry price war.

Hedge accounting will align Fannie’s reporting with competitor Freddie Mac, and will address a mismatch between the recorded value of financial instruments used to offset interest-rate volatility on mortgages and the loans themselves.

Depressed Treasury yields have kept mortgage rates under 3% recently, but positive economic news could indicate larger increases will follow this week’s uptick.

Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.

The Consumer Financial Protection Bureau has moved ahead with an earlier proposal to postpone the full adoption of the qualified-mortgage ability-to-repay rule, citing a need to maximize borrowers' credit access.

It would be available to homeowners making 80% or less of their area’s median income who weren't eligible to tap into low rates last year.

A new commercial-mortgage loan for seven facilities operated by the self-storage REIT is the largest of 41 loans in the conduit deal.