Economy

The Federal Housing Finance Agency appears to be on course to decide next year whether Fannie Mae and Freddie Mac should update their credit scoring models.

Existing-home sales plummeted in November, confirming fears in the mortgage industry that a new consumer disclosure rule is delaying mortgage closings.

Both banks and Wall Street critics support a new Fed proposal to implement a countercyclical capital buffer on megabanks, but the two sides diverge on when and how the Fed would use it.

A healthy bank culture can only be built from within, rather than as a compliance exercise to satisfy regulators.

The Internet of Things is ready to take off in modern retail in the coming year, spurred by a growing connection to consumer payments.

The Federal Housing Finance Agency is giving private mortgage insurers some hope this holiday season that they might get a change to offer deeper mortgage insurance on Fannie Mae and Freddie Mac single-family loans.

Some mortgage investors are refusing to buy home loans that are at risk of violations of new consumer-disclosure rules. The problem appears to be worst among nonagency jumbo loans purchased by private investors.

The Federal Reserve issued a proposal Monday outlining a framework to implement a countercyclical capital buffer for the largest and most internationally active banks, a key part of Basel III that has until now lacked any details.

Multifamily properties are getting pricy and new construction is putting upward pressure on vacancy rates, worrying banking regulators.

Freddie Mac will begin issuing single-family mortgage-backed securities sometime next year via the new common securitization platform, the Federal Housing Finance Agency said Thursday.

WASHINGTON — The Office of the Comptroller of the Currency released details Thursday of a proposal that would require large banks to submit a "recovery plan" for how they would survive a crisis.

Sen. Bob Corker championed a provision he added to the budget bill that would temporarily prevent the Treasury Department from recapitalizing Fannie Mae and Freddie Mac and discussed other banking priorities in a sitdown interview with American Banker.

Uber has long taught that the best way to get consumers to pay with a mobile device is to make the payment almost invisible. Now, with the help of Facebook and Braintree, Uber is applying that philosophy to the rest of its business — and if Facebook has its way, other companies will again follow Uber's example.

Now is not the time for the Federal Housing Administration — which has stayed strong amid turmoil — to reduce its market share.

The $933-million asset institution said in a press release Tuesday that the technology, provided by Louisville-based R.C. Giltner Services, will enable consumer and small-business customers to complete the loan application process in minutes.

Bank officials say they are ready for rising rates; disagree on how much the initial increase would help or hurt lending and the economy; and predict more rate increases next year.

The central bank's "total loss absorbing capacity" proposal must be reworked to ensure that costs of huge failures don't fall on society at large.