Retail & Commercial

Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.

The regulator's action indicates that — after years of overhauling its operations — the bank has finally shown it's in compliance with the agency's standards on sales conduct.

Financial institutions need to reconsider the logic and intuitiveness of their website design. They could also introduce free credit scores and capitalize on generative AI, experts say.

For the first time since mid-December, the Freddie Mac survey reports mortgage rates over 6.7%.

The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.

The proposed implementing rule will squeeze credit for entrepreneurs and small businesses, adding more barriers to their success in an already-tight lending environment.

After focusing on cost control throughout much of 2023, including a round of job cuts, the Pittsburgh company has announced plans to expand in high-growth markets like Texas and refurbish more than 1,200 existing offices.

The lending fintech is increasing its reliance on third-party funding arrangements as its revenue slides. Analysts are wondering how much risk is embedded in the deals.

In all, the Denver-based bank plans to sell nine branches to two buyers as part of a decision to exit the state and invest more in technology and other markets where "it has the greatest growth potential."

Like the three regional banks that failed last spring, New York Community grew quickly over a short period of time. One analyst said there's now "permanent damage" to the "investor psyche around growth banks."