These are the most important and latest government-sponsored enterpise moves, mortgage banking pol legislative proposals affecting the secondary mortgage market. New or updated items are marked.Topic: Action: What's NeFlood Insurance The House Banking Subcommittee on Consumer Credit and Bill mayReform Insurance passed legislation, H.R. 3191, requiring lenders to House Ban escrow flood insurance funds, even if no escrow account has been this week set up for taxes, insurance and the like. It also requires lenders to will reac perform flood zone recertifications for loans sold or transferred. floor thiFreddie Mac Freddie Mac announced Sept. 7 that it will only accept seasoned SeasonedSeasoned mortgages, home mortgages closed within one year of delivery to be sold tMortgages Freddie, on a negotiated basis. The process may require lenders to the Dec.Policy provide Freddie with more detailed information about the borrowers later off credit history as well as updated property appraisals. be negotiHigh-Yield Legislation marked up by the Senate Banking Committee Sept. 21 Bill headMortgage imposes much greater disclosure requirements on high yield floor wheDisclosures mortgages. The bill, Community Development, Credit Enhancement likely to and Regulatory Improvement Act, S. 1275, is aimed at nonbank lenders who invest loans into high-yield instruments.* UPDATE: The Mortgage Bankers Association and the Federal Reserve are The HouseSecondary Market pressing Congress to implement changes that would limit the CommitteeCommercial potential power of the Treasury before the Business, Commercial, view theReal Estate and Community Development Secondary Market Development reach theMortgages Act, H.R. 2600, reaches the Banking Committee. this sess
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
April 19 -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
April 19