Financial institutions

A Conference of State Bank Supervisors subsidiary settled a lawsuit with defendants who allegedly misused and reproduced copyrighted questions from a national exam mortgage loan officers take to obtain licenses.

The Department of Banking and Insurance in New Jersey is warning that enforcement of a 2019 residential mortgage servicer licensing law will begin in 2020.

Mortgage lenders are increasingly introducing new loan programs outside of typical underwriting parameters in line with indicators suggesting that the availability of credit in the housing finance market is growing.

The latest monthly employment estimates for nondepository home lenders and loan brokers rebounded in October and rose year-to-year, reversing a downward trend in 12-month comparisons.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

In a recent interview, Plaza Home Mortgage CEO Kevin Parra discussed why he likes certain underutilized loan products, thinks online lending will be limited, and is bullish on third-party originations.

The nonbank share of large mortgage servicing is growing, but smaller players tend to be depositories, the Consumer Financial Protection Bureau found in a new report aimed at examining regulatory impacts.

The House Financial Services chair is sponsoring a bill with one of the Democratic presidential contenders aimed at alleviating the public housing capital backlog.

1st Alliance Lending is officially closing, but its CEO still plans to fight Connecticut's allegations that it used unlicensed personnel to take mortgage loan applications.

The 2015 decision posed new legal challenges for institutions trying to sell loans to third parties, but the federal regulatory agency proposed steps Monday for banks and debt parties to evade state interest rate caps.

The Consumer Financial Protection Bureau issued new rules governing mortgage lenders' screening and training of loan originators with temporary authority.

Nonbank and bank mortgage employment has leveled off in line with typical seasonal trends, but some lenders remain more interested in hiring than is usually the case late in the year.

Shares in the lender fell after it reported lower third-quarter profits, said nonperforming assets rose and cautioned that it had lost multifamily loan deals to competitors offering easier terms.

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

Count Citizens Financial’s Bruce Van Saun among those who think interest rate cuts could halt by mid-2020. The key, he says, is to focus on delivering services customers are willing to pay fees for and to skillfully reprice deposits until then.

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy.

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.

The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees.

NewDay USA, a lender specializing in loans to veterans and military service members, is addressing rate-driven increases in refinancing by hiring more than 100 workers who are new to the business.