Credit Suisse Group must face New York Attorney General Eric Schneiderman's $10 billion lawsuit accusing the bank of fraud in the sale of mortgage-backed securities prior to the 2008 financial crisis, a state appeals court ruled Tuesday in a split decision.

September's mortgage application defect risk declined 1.4% from August and 14.8% from one year ago, because of the continued improvement in loan manufacturing processes, said First American Financial Corp.

Recently launched low-down-payment mortgage programs are presenting new opportunities for fraud. But new data and monitoring tools can help lenders mitigate those risks.

Within hours of taking the reins at Wells Fargo, new chief Tim Sloan pledged to finish the reforms begun by his predecessor, John Stumpf, who stepped aside Wednesday in an attempt to quiet the phony-accounts scandal that has rocked the company.

The Wells Fargo phony-accounts scandal is barely five weeks old, but it felt like John Stumpf had been hanging on for five years.

The No. 3 U.S. bank by assets has made a change at the top after a snowballing scandal involving the creation of fraudulent accounts.

First American Financial Corp. has acquired post-closing services and document management technology provider TD Service Financial Corp.

Talk show hosts have had a field day with the Wells Fargo phony-accounts scandal, underscoring just how much it has hurt the bank's reputation.

The bank's fake account scandal is further reason to make the results of Wells' 2012 Community Reinvestment Act exam public.

BB&T Corp. has agreed to pay $83 million to settle a Department of Justice investigation over loans that failed quality control tests but were still insured by the Federal Housing Administration.

The Department of Justice wants banks to more fully cooperate with civil investigations. Companies now are expected to "materially assist" the agency in providing documents, access to witnesses and even inculpatory documentary evidence such as emails and text messages.

Mortgage fraud rose nationwide as Florida continued its reign as the state with the highest overall risk for unscrupulous activity, according to CoreLogic.

Republican lawmakers are pushing back against claims by the Consumer Financial Protection Bureau's allies that it rooted out fraud at Wells Fargo, arguing the L.A. City Attorney and the Los Angeles Times brought the situation to light.

Federal Reserve Chair Janet Yellen pushed back against the notion that banks might be "too big to manage," saying that despite concerns raised by the recent scandal at Wells Fargo, there is no inherent reason why large banks cannot meet existing standards of conduct.

House flippers and property developers are increasingly crowdfunding — tapping the virtual wallets of anonymous internet backers.

A California man was sentenced to 52 months in federal prison over his role in an alleged mortgage loan modification scheme.

The president and founder of a now-defunct Massachusetts-based mortgage company was charged with defrauding Ginnie Mae to the tune of $3 million.

The scheme is used by borrowers who don't have enough income to qualify for a regular mortgage, so they apply for a higher rate non-owner-occupied loan.

As the mortgage industry swings more toward purchase loans and away from refinancings, its risk from material misrepresentations increases.

The stock price of CBL & Associates Properties Inc. sank 13% in early trading after a published report said the U.S. retail landlord is being investigated for accounting fraud.