Mortgages

Ten years after faulty mortgages upended the global financial system, Wells Fargo agreed to pay $2.09 billion to settle a U.S. probe into its creation and sale of loans that contributed to the disaster.

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

The agency said multiple stakeholders had requested more time to evaluate the proposal.

Industry veteran A.W. Pickel III became president of Waterstone Mortgage in June, and now the company has decided to promote him to succeed longtime CEO Eric Egenhoefer.

Some startups are eschewing San Francisco and New York to set up shop in the middle of America. And for good reason.

Fannie Mae and Freddie Mac remain in conservatorship nearly a decade after the financial crisis, and there’s still no end in sight.

With values on multifamily properties soaring, some building owners are using aggressive tactics to push out existing tenants to make room for higher-earning ones. That’s raising questions about whether their lenders are abetting this behavior.

Whoever succeeds current Director Mel Watt will have a front-and-center role in efforts to reform Fannie Mae and Freddie Mac.

The House Financial Services Committee chair also acknowledged that his capital-formation bill still faces a potentially tough Senate vote.

With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension.

The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.

Rep. Maxine Waters said fixing Fannie Mae and Freddie Mac would top her list of priorities if Democrats take control of the House in this year's midterm elections and she becomes leader of the Financial Services Committee next year.

The company is once again positioning itself for growth now that it is no longer considered a systemically important financial institution.

Michael Bright co-wrote a paper in 2016 that envisioned making the agency a backstop for the housing finance system, but appeared to distance himself from the proposal at his confirmation hearing.

The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income.

The announcement comes as Fannie Mae promoted David Benson to serve as president of the government-sponsored enterprise.

Credit card and auto loans grew again in the second quarter at the McLean, Va., company, and the net charge-off rates of both business lines fell, too.

The company now serves more than 1,000 credit unions.