Kate Berry

Community banks and credit unions now have two years to continue originating balloon loans to all customers, a major change from a prior proposal that would have banned such loans except in rural or underserved markets.

Technology has dramatically changed the way people bank, but many banks areresponding by closing and opening branches rather than arming themselves with data that could make existing branches more efficient.

In a sign of renewed pressure on mortgage servicers, a number of big banks have ceased or dramatically slowed the final step in the foreclosure process.

A shareholder at Regions Financial urged shareholders to exercise "caution" in the election of the bank's 14 board members who are up for re-election at the its annual meeting Thursday.

Ally Financial said Tuesday that it has settled all claims with its subprime mortgage unit Residential Capital and between all third parties and ResCap excluding securities claims brought by the Federal Housing Finance Agency and the Federal Deposit Insurance Corp.

Scott Simon, head of mortgage-backed securities operations at fixed income giant Pacific Investment Management Co., argues on the eve of his retirement that the government-sponsored housing enterprises should continue to play a major role in housing finance.

New York's Attorney General charged Bank of America and Wells Fargo with hundreds of cases of failure to comply with the national mortgage servicing settlement recently. The claims made for lots headlines but may prove a non-starter in court.

The share of all loans that were at least one payment past due or in foreclosure fell to 10.3% in the first quarter, the lowest level in four years, the Mortgage Bankers Association said Thursday.

A new report from Celent finds that many banks plan to expand their branch networks over the next few years even though all the evidence suggests that foot traffic is declining and that most transactions are now conducted online.

Chief Executive Brian Moynihan faced angry comments from more than 30 shareholders, but most criticized the company's financing of the coal industry, not its mortgage servicing or foreclosure practices.

Experts say the Consumer Financial Protection Bureau backed away from stiffer requirements after two powerful consumer groups raised fears that they would drive small banks and credit unions out of the remittance business.

National Mortgage Insurance is upending the traditional business model by underwriting every single loan it insures and promising not to ask lenders to pay claims on defaulted loans if the borrower had made 18 months of consecutive payments.

Citigroup hopes to capture a larger share of the home loan market by helping borrowers use the outstanding balance of existing accounts to reduce the interest paid over the life of their loan.

Hundreds of thousands of homes are being withheld from the market, raising questions about whether the recent run-up in housing prices is artificial.

Shares of City National rose slightly Friday after the Los Angeles company reported strong first-quarter loan growth and good expense management.

But large banks have narrowed the gap as they have made a more concerted effort to better explain their fee structures to disgruntled customers.

Roughly 91% of the mortgages Bank of America funded in the first quarter were refinances — spelling peril if the refi boom peters out, as is expected.

Mark Zandi, the chief economist for Moody's Analytics, has emerged as a contender to lead the Federal Housing Finance Agency as the White House searches for a replacement for Acting Direct Ed DeMarco, according to news reports.

The Federal Housing Finance Agency on Thursday extended the government's Home Affordable Refinance Program for an additional two years through 2015. The program was set to expire at the end of this year.

The Consumer Financial Protection Bureau on Wednesday published a compliance guide for small banks and mortgage lenders to better understand and comply with a rule that requires lenders to ensure borrowers have the ability to repay a loan as well as creates a separate class of loans known as "qualified mortgages."