Financial institutions

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.

The former bank CEO is widely expected to continue the recent push to implement a more industry-friendly agenda.

Carver Bancorp, which has spent 70 years serving minorities in Harlem and surrounding neighborhoods, is struggling to turn a profit. As black-run banks nationwide struggle to stay afloat, Carver's CEO insists the institution is on the right track.

Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.

Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.

Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives.

Nonbank mortgage employment took its biggest drop since January following the recent hurricanes, according to the Bureau of Labor Statistics.

Top banking executives called the Republican tax plan an important first step toward tax reform and economic stimulus, but questions immediately arose about whether trade-offs and complexities in the bill would undercut it.