Mortgages

Franklin Codel, Wells Fargo's head of mortgage, will now oversee all consumer lending as part of a management shakeup that comes amid the bank's fake account scandal.

As Fannie Mae and Freddie Mac continue to experiment with up-front risk sharing deals, some small mortgage lenders are worried they will be left out of the action.

Condominium associations cannot afford to take on the potential legal risk that reporting delinquent borrowers to the credit bureaus would bring.

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.

Companies weighing whether to reopen past settlements with the Consumer Financial Protection Bureau after a federal appeals court limited the agency's powers may want to think twice, according to industry experts.

Foreclosure filings dropped to the lowest level reported since December 2005, signaling the end of the country's foreclosure crisis, according to Attom Data Solutions.

Mortgage rates and Treasury yields moved higher this week in anticipation of the Federal Open Markets Committee raising short-term interest rates in December.

Tricon American Homes is prepping its second securitization of single-family rental homes, according to ratings agency reports.

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.

NeighborWorks reported Wednesday that 56% of survey respondents said that rents are too high where they live for them to be able to save enough to buy a home.

Necessity, as they say, is the mother of invention. Unfortunately, it's taken years of widespread regulatory upheaval for mortgage servicing to find it necessary to start thinking about technology innovation.

Servicers have long skimped on technology investment, leaving legacy systems that can't keep pace with compliance demands. But rising costs and a new round of regulations are compelling both servicers and vendors to finally address these deficiencies.

Fannie Mae said that it will sell 7,300 loans with a total of $1.39 billion in unpaid principal balance.

United Guaranty Corp. has initiated a disaster policy after Hurricane Matthew tore across the Southeast this past week.

Mortgage applications decreased 6% from one week earlier, according to the Mortgage Bankers Association.

The ramifications for a U.S. Court of Appeals decision against the CFPB’s constitutionality go far beyond just the agency’s independence, and may have consequences for other federal agencies with similar structures. The ruling may also hamper the CFPB's powers going forward, including its ability to retroactively apply new rules.

Navy Federal Credit Union, the largest credit union in the country, agreed Tuesday to pay $28.5 million to settle regulatory allegations it engaged in illegal debt collection practices.

The number of completed foreclosures nationwide in August dropped 42% from a year earlier, according to CoreLogic.

It's tougher out there for New York's commercial real estate developers seeking cash for their latest projects.