Mortgages

Wells Fargo & Co. is cutting 638 mortgage employees as the nation’s largest home lender contends with a slowdown in the business.

A deceleration in mortgage balances ends CIBC's three-year streak of outpacing Canada's other large lenders on mortgage growth. Royal Bank of Canada said this week that mortgage balances were 5.9% higher than a year earlier.

President Donald Trump's former campaign chairman was convicted on eight fraud counts, including two counts of bank fraud. He faces jail time on each count.

The employee who made sexual harassment allegations against the agency’s director also claims Watt withheld her pay increase after she refused his advances.

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.

A number of banks have stepped up efforts to lend to residential developers, though they are mindful of missteps made before the financial crisis.

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.

Top U.S. housing regulator Mel Watt is privately reassuring people close to him that he will keep his post as authorities investigate an employee's claims of sexual harassment. Now, his accuser is heightening the pressure — speaking out publicly for the first time.

On Mar. 31, 2018. Dollars in thousands.

On Mar. 31, 2018. Dollars in thousands.

The bank said it has received subpoenas related to low-income housing tax credits; write-offs of bad credit card debt creep up.

The Michigan company had been operating under the supervisory agreement since 2010.

The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.

The FBI and DOJ are looking into what could be one of the largest mortgage frauds since the financial crisis; lawyers for the banks met with the Fed last week.

The investors initially won the right to sue as a group in 2015 before an appeals court reversed the ruling; the $13 billion lawsuit can now proceed as a class action.

The regulator of the government-sponsored enterprises has substantial authority to intervene as a legislative stalemate continues.

The companies had been unable to secure regulatory approval for the deal, which was announced a year ago.

Lending to problematic or serial evictors can cause people to be pushed out of their homes in the name of profits. Banks must adopt standards against this practice.

The bank continues to battle a series of negative headlines such as erroneous foreclosures, but public and investor reaction has been muted.

The Trump administration has argued that the Affirmatively Furthering Fair Housing rule, issued in 2015, was too prescriptive.