Financial institutions

Mortgage lender loanDepot is taking steps toward rebooting plans for an initial public offering, about five years after scrapping one at the last minute, according to people with knowledge of the matter.

The only rational strategy for holding MSRs is to be very aggressive on protecting the servicing assets via loan recapture. This is one of the chief reasons that banks have been willing to give up their share in lending and servicing as they collapse back to retail-only lending strategies.

After being approved, retroactively denied and having a second application rejected, the firm is appealing the decision with federal regulators.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

While employment typically ebbs as home buying slows in the fall, several nonbanks have ambitious hiring plans in the works, which call for them to add thousands of workers by year-end.

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.

But federal elections and the pandemic make projections on the sustainability of industry profitability especially tricky.

The new reality for investors and originators accounts for forbearances and ability-to-repay.

The Federal Reserve could ease capital rules, foster the creation of special-purpose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

The rising number of positions appears to reflect an ongoing need to adjust capacity to address rate-driven demand.

After an initial fizzle, the stock at one point was trading above the original expected price range.

The company, which launched last fall, announced a partnership with an organization that aids military families.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

The company lost $8.9 million in the second quarter, but its origination and servicing businesses were profitable.

The Financial Stability Oversight Council’s plan to study the market explains very little about which activities or firms, like Fannie Mae and Freddie Mac, will be designated as systemically important. Here's some clearer guidance.

The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans.

Any intention that Ginnie Mae may have had to slow prepayment rates by changing the rules on RPLs seems to be thwarted by the grim economic reality facing the big banks.

A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders: They were a big factor in why central banks had to save markets earlier this year, and much more needs to be done to assess the risks posed by the sector.