Financial institutions

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.

The council created by the Dodd-Frank Act to identify systemic risks launched a review of the market as part of an activities-based approach that shifts focus away from targeting individual firms.

The lending giant's filing reveals what the company's internal structure will look like going forward.

A Detroit-based company, which owns Rocket Mortgage and Quicken Loans, listed the size of its upcoming offering in filing as $100 million, a placeholder amount that will likely change.

While the new employment numbers bode well for housing and loan performance in the short term, concerns abound regarding how the unemployment rate and furloughs could affect prospects for the business later.

The gap between Black and white homeownership rates is extremely wide in some areas, and it could get worse if the industry fails to proactively address local and national inequities.

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

Nonbank servicers have been seeking more sources of cash since the coronavirus disrupted markets and elevated forbearance rates. These are some strategies they may be able to use.

In the most sweeping capital distribution order since the financial crisis, the Federal Reserve says it will prohibit big banks from buying back their stock in the third quarter and limit dividend payments to second-quarter levels.

The government-sponsored enterprises had been considering tightening counterparty requirements for nonbanks, but in light of COVID-19's spread, they've reconsidered that.

The Mortgage Bankers Association points to better lender diversity and a stronger housing finance network as reasons for its support.