Mortgages

Total loans from credit unions increased by nearly 18%, driven in part by car dealerships rebuilding their inventory. Headwinds in the mortgage market also fueled interest in home equity loans.

Bank regulators rolled out two joint proposals this month as part of a broader push to address discrimination in home valuations. Advocates see promise, but appraisers fear the changes could artificially inflate valuations.

CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.

A West Virginia homeowner is suing the banking giant for charges incurred when paying by phone, claiming breach of contract and violation of consumer protection laws.

Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.

Jennifer Schachterle will oversee the Home Loan bank's relationships with nearly 330 members. Two former members — Silicon Valley Bank and First Republic — failed this year, and consolidation has also thinned its ranks.

Wells Fargo is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans.

Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

The 30-year average for both conforming and jumbo loans jumped more than 20 basis points, according to the Mortgage Bankers Association.

Citing "changing market dynamics," the company announced it will exit mortgage lending this summer.

The regional bank made the deal as part of an effort to bolster liquidity following turmoil among its peers.

As the Federal Housing Finance Agency considers how to prepare the system for the future, it can keep member liquidity steady while still boosting affordable housing.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

The CEO of Kind Lending chatted about his current and past businesses, how to build a successful shop and his upcoming book.

The state lost almost 48,000 people by mid-2022 from two years before, according to Census Bureau estimates, spurring concern about outmigration that will curb long-term economic growth.