WASHINGTON - (06/30/05) Delinquencies on home equity loans roseduring the first quarter. According to data released by theAmerican Bankers Association (ABA), delinquencies on home equityloans rose to 2.43% in the first quarter, up from 2.37% in thefourth quarter of 2004. The same statistics show a decline incredit card delinquencies, but analysts note that many people havereplaced credit cards with home equity secured lines of credit asthey seek to take advantage of lower rates and rapidly rising homevalues. Meanwhile, the Mortgage Bankers Association released firstquarter data showing seasonally adjusted delinquency rates haddropped 15 basis points from the first quarter of 2004 to 4.31% anda seven-basis point drop from 2004's fourth quarter.
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The FDIC Board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
29m ago -
The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
35m ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24