Financial institutions

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.

Fannie Mae's multifamily volume hit another record high of $67 billion in 2017 as former top producer Wells Fargo nearly halved its volume and nonbank competitors increased their market share.

The Community Home Lenders Association sent a letter to the Senate Banking Committee on Wednesday laying out its priorities for GSE reform.

Pennsylvania will soon start accepting applications for new servicing licenses added to address the growth of nondepositories, joining other states with similar authority.

Financial firms have mostly shrugged off the government's budget woes, but Washington's gridlock might pose a bigger risk than they think.

Updated Fannie Mae requirements clarify that lenders need to conduct an independent internal audit, something that might require additional investment by nonbanks to set up.

The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.

Progressives have been setting off alarm bells this week over the Senate’s bill to ease some Dodd-Frank rules, but the changes are more modest than many assume.

Refinance volume fueled recent market gains by nonbank mortgage originators. But lower volume amid the shift to purchase lending has nonbanks trimming headcounts and may position banks to recapture market share.

A regulatory relief package is likely to come out of the Senate in the new year, and lawmakers could follow it up with a housing finance reform push. But the midterm elections could cause some reform initiatives to grind to a halt.

The GSEs are on their way to paying back the money they owed the government under the original bailout deal made at the height of the financial crisis, making 2018 an opportune time for an overhaul of the housing finance market.

The Trump administration's Financial Stability Oversight Council is likely to remove the systemically important financial institution label for the remaining nonbanks on the list, but it might consider adding other firms such as Fannie Mae and Freddie Mac.

The company has agreed to buy the operations of Veterans Mortgage in Salt Lake City.

Nonbank mortgage employment fell for the second consecutive month, according to the Bureau of Labor Statistics.

The Senate Banking Committee's passage of a regulatory relief bill is fueling optimism about its advancement, but it still must clear a series of legislative hurdles before becoming law.

The Tennessee company also set high expectations for revenue opportunities while projecting it will deliver a 15% return on equity in 2019.

A bipartisan Senate alliance working on a bank regulatory relief bill appeared even stronger Tuesday as it worked to minimize changes in the interest of moving the legislative package to the Senate floor.

Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.

Newfi Lending is now approved by Fannie Mae as a seller/subservicer and by the Federal Housing Administration as a "Full Eagle" Mortgagee.

Higher costs dampened mortgage lenders' profitability, outweighing near-term gains in origination volume and per-loan revenue during the third quarter, according to the Mortgage Bankers Association's quarterly.