Originations

The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems.

In the first episode of the five-part Arizent documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.

In the first episode of the five-part documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.

When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly.

One could change how commercial property is taxed, the other could change rent control policies. Both might affect financing.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

The final version of the amended rule, like the original proposal, makes fair-lending claims tougher to prove. But it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination.

The product, which is also aimed at community banks, includes a "take-back" option that allows consumers to withdraw extra funds they've paid that go beyond their monthly scheduled mortgage payment.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

The embattled German payments company filed for insolvency, while its former COO is either on the run or looking for the missing $2 billion; the giant asset manager is looking to hire more college graduates rather than poach junior bankers.

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists.

The Federal Housing Administration's move to insure loans with forbearance could help support homeownership opportunities constrained by the coronavirus if one change was made to it, trade groups said.

One segment of the market, at least, has proved more resilient than many feared early on in the crisis.

A unit of the Huntsville, Ala.-based institution has acquired Ben Porter Realty and rebranded the company as Redstone Family Realty.

Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.

The agency’s IG says the PPP failed to prioritize borrowers in underserved and rural markets; the firms, which lack deposits to cushion them, are vulnerable to borrowers defaulting on their loans.

Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years.

Lenders and small businesses are hoping this round goes more smoothly than the chaotic first one (and if it doesn't, Joe Biden warns, many mom-and-pop shops are done for); originators are adding staff, cutting marketing to handle massive uptick in refinance applications.

Efforts to calm lenders’ fears about coronavirus-related forbearance may not offset tightening standards, and the FHA is less likely to boost volume than it was during the financial crisis.