Mortgages

After exiting the business roughly 20 years ago, the San Antonio bank is working with tech consultant Infosys to help it build out a digital consumer lending business that will include home loans.

The move generally gets a thumbs up from industry participants, but what can happen in the long-term is uncertain.

The Federal Housing Finance Agency is looking to revise the framework intended for when Fannie Mae and Freddie Mac exit conservatorship in order to encourage the transfer of credit risk to private investors.

The platform, built off a recent acquisition, looks to create efficiency in the growing wholesale lending market.

Critical defects fell as well, but the percentage that are related to income or employment concerns set a new record, surpassing the one set in the second quarter of last year.

Speculation has mounted that Mike Calhoun, president of the Center for Responsible Lending, is under consideration to lead the Federal Housing Finance Agency. His nomination would be an endorsement of proposals to treat Fannie Mae and Freddie Mac in a similar way as publicly regulated power or water companies.

But the pace of refinances was at its slowest since July, even as interest rates remained low.

Rather than add debt through a HELOC, the company’s product allows clients to get cash in exchange for a portion of the property's value.

Changes made in the waning days of the previous administration limited the government-sponsored enterprises’ purchases of certain loan types, which drew criticism from lenders and community groups alike.

Fitch Ratings’ second quarter numbers suggest even those facing some of the highest repayment hurdles may have been motivated enough by economic improvement to exit before many expirations were due.

The fintech projects the Series C capital will enable $10 billion in annual housing transactions through its system and expansion to half the U.S.

All of the NTC employees will join Covius, including the company's senior management, following the deal's completion.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

The company co-founded by former Zillow CEO Spencer Rascoff raised $125 million from investors including SoftBank Vision Fund 2.

The companies talk through their products aimed at making the processes safer and more inclusive for consumers.

The number of borrowers leaving plans outweighed a smaller uptick in new requests and re-entries.

If confirmed, Alanna McCargo would be the first Senate-approved president at Ginnie Mae since January 2017.

August’s increase in that loan type drove refinancings to take up a slim majority share of origination volume for the first time since February, according to Black Knight.

The move suggests the government bond insurer doesn’t expect to see loan performance return to normal levels until next summer.

The fourth annual survey seeks to identify and recognize the best employers in the industry.