Financial institutions

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.

Nonbank mortgage hiring inched down when overall employment plunged in April. The subsequent recovery in overall jobs suggests the housing-finance industry is still bearing up well despite coronavirus-related strain.

Independent mortgage banks started 2020 strong after three quarters of high profits, according to the Mortgage Bankers Association.

Embrace will originate and close home loans in its own name for clients of the wealth management firm.

The sale completes First Choice affiliate Berkshire Hills Bancorp's exit from the mortgage origination business.

Previously, mortgage firms concentrated on borrower-facing systems at the expense of internal experience.

Hiring by nonbank mortgage and brokers held up unusually well through the early days of the coronavirus outbreak in March, but April's all-time high in unemployment suggests that's unlikely to last.

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.

The Federal Housing Finance Agency has promised to take care of advances on principal and interest payments for coronavirus forbearances after four months, but servicers remain concerned about other responsibilities.

As the nation struggles with the coronavirus, now is not the time to make major revisions to the Community Reinvestment Act.