Economy

In an interview, Comptroller Thomas Curry expressed concern about eroding loan standards and the potential for crippling cyberattacks. But he also argued that the industry is much stronger than it was a decade ago.

Inspired by marketplace lenders, Live Oak Bancshares created a largely digital product that can make a credit decision on a small-business loan within 48 hours. The product, which combines human decision-making and automated credit scoring, could go national as early as next year.

The Federal Housing Finance Agency's decision to exclude captive insurance companies from Federal Home Loan Bank membership makes the FHLB system like a private country club.

Competition among lenders for commercial mortgages has driven down interest rates, margins and underwriting standards, and now it's helped drive one lender out of the business.

Morgan Stanley agreed to pay $3.2 billion to end a joint federal-state investigation into its handling of mortgage-backed securities, the fourth deal to be struck in a probe of the big U.S. banks' role in the subprime mortgage meltdown and the financial crisis it spawned.

Other countries have already lowered interest rates below zero, and the financial stability concerns of such a policy taking shape in the U.S. should not be dismissed.

Strong demand for rentals will keep pace with new construction over the next few years, the government-sponsored enterprise says.

Federal Reserve Board Chair Janet Yellen faced tough questions Wednesday by House Financial Services Committee lawmakers over the central bank's regulatory treatment of big banks.

While the courts generally accord deference to regulators, Judge Rosemary M. Collyer of the D.C. District Court appeared highly skeptical of the Financial Stability Oversight Council's case during the first round of oral arguments on Wednesday.

Sen. Bernie Sanders' victory in New Hampshire will undoubtedly boost his campaign, but his plan to cap interest rates for credit card and other consumer loans at 15% won't help anyone in the short term and could potentially wreak havoc on low-income people in the long term. Here's how.

The proposal is unlikely to pass, but does shed light on the administration's plans for housing finance reform, how it views cybersecurity progress and a proposed tax on bank liabilities that could become a reality if a Democrat takes the White House in November.

Many institutional investors are refusing to purchase mortgages loans until they get assurance from the CFPB that they won't have to pay for others' mistakes. Their pullback could further the slow the issuance of private-label mortgage bonds this year, a huge concern at a time when the majority of home loans are insured by Fannie, Freddie and the FHA.

Ted Tozer, president of the Government National Mortgage Agency, wants more hands to monitor the growing number of nonbank MBS issuers.

Stephen Steinour, chief executive of Huntington Bancshares in Columbus, Ohio, has pursued a risky strategy of taking losses in exchange for adding new customers, the Cleveland Plain Dealer reported.

Golf course management software provider Club Prophet Systems is using the linked2pay application interface to add Automated Clearing House payment acceptance as an option for its clients.

The Federal Home Loan Bank System was designed to provide liquidity to community lenders and traditional insurers, not to unregulated lenders that circumvent the membership rules.

The election of a Republican president could be the first prerequisite to repealing the financial reform law, but banks still need to argue their case for why repeal is necessary.

The honorees, selected by the editors of PaymentsSource, are responsible for businesses and innovations as diverse as the payments industry itself.

There have never been so many foundational changes at once in this industry, Murray said. It’s imperative that everyone in it stay on their toes and be “prepared to change direction at any moment.”

Mortgage REIT says five-year transition plan won't have an impact on its financing model.