Housing

The Mortgage Partnership Finance Direct program will now accept larger jumbo mortgages and a wider variety of products including hybrid adjustable rate mortgages, the Federal Home Loan Bank of Chicago and Redwood Trust said Monday.The partners said that the program would accept jumbos of up to $2. 5 million, a boost from the previous $1.5 million limit.

The $140 billion-asset company disclosed Thursday in a regulatory filing that the Federal Reserve Board downgraded its Community Reinvestment Act rating to "needs to improve."

While many depositories do just enough mortgage lending to low- to moderate-income borrowers to meet statutory requirements, The Federal Savings Bank has made it a backbone for growth.

Calling the crazy-idea department…a U.S. Bancorp-branded bus is more than halfway through a cross-country, social-media-tracked journey to promote community development and alter its profile. It's an example of the new style of reputation-oriented marketing being pursued by banks.

Berkshire Hills Bancorp is buying a bank with a national mortgage platform. The company hopes the business will provide a much-needed lift in fee income.

BancorpSouth Bank agreed Wednesday to a $10.6 million settlement with the Consumer Financial Protection Bureau and the Justice Department for allegedly discriminatory mortgage lending practices that harmed minorities.

The Consumer Financial Protection Bureau is keeping lenders in the dark about how it will ensure borrower data is secure and private under the expanded Home Mortgage Disclosure Act reporting requirements.

Home prices are more likely to go down in states with economies driven by the energy industry than across the country overall, according to Arch Mortgage Insurance.

New York City broke ground on a $67 million reconstruction project at the Ocean Bay-Oceanside development in the Rockaways.

Ten banks have invested a total of $25 million in the fund, which buys up mortgage-backed securities tied to loans made for the development or rehabilitation of affordable single- and multi-family homes.