Financial institutions

Ginnie Mae is requesting feedback on a new proposed stress test for mortgage-backed securities issuers that would take into account the government agency's increased nonbank counterparty risk.

Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.

The decision gives the vast majority of banks and credit unions another year to implement the controversial accounting method for loan losses.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

After months of backsliding followed by a modest increase in April, nondepository mortgage companies added 3,200 workers in May, as the overall job market gained steam.

Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.

There is bipartisan agreement in the Senate that Fannie Mae and Freddie Mac are "too big to fail," but some lawmakers are skeptical that a SIFI designation is appropriate.

LoanDepot will accelerate hiring initiatives in the third and fourth quarter as it plans to add 1,400 new jobs by the end of 2019. The company credits its technology efforts for the growth opportunities.

Quicken Loans claimed victory in its dispute with the Department of Housing and Urban Development over the False Claims Act, only paying the agency for losses incurred and interest.

Ginnie Mae is examining whether the shift in business to nonbank issuers has implications beyond the risks it has historically looked at, and identifying advantages that should be nurtured as well.

After a sustained downward trajectory, nondepository mortgage companies added 1,200 workers in April, a modest boost for lenders during prime season for the housing market.

Independent mortgage banks became profitable again at the start of the year after realizing losses of $200 for each loan they originated in the fourth quarter of 2018, according to the Mortgage Bankers Association.

Many community banks have given up on national mortgage platforms as not worth the effort, but organizers of NXG Bank in Maryland say they have a plan to make one work.

There's been chatter about whether the government-sponsored enterprises should be considered systemically important. But supporters must consider that such a designation would put the Fed in charge of their supervision, a step that would do more harm than good.

Velocity Mortgage Capital's new loan for income-producing residential and small-balance commercial properties was designed to afford investors more payment certainty than traditional bank financing.

The FHFA director’s recent comments about whether the government-sponsored enterprises should be designated as SIFIs tees up a potentially significant element of the mortgage finance debate.

The shift to nonbank lenders will put the breaks on non-qualified mortgage and home equity line of credit origination growth.

The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.

Nonbank mortgage companies have traditionally been monoline or focused businesses, but in the current market they must create multiple revenue lines and strike a healthy balance between them to survive.

Lending against single-family home construction is an area where depositories have traditionally faced little competition. That's starting to change.