Industries

Kevin Cummings, the New Jersey company's CEO, transformed Investors to sizable bank prior to its second-step conversion last May. With $2.2 billion in capital and an updated core system, Cummings has his sights on the company's next growth phase.

A new book by the American Enterprise Institute's Peter Wallison reveals how a government push to lower credit standards brought about the housing crisis — and why a new effort to expand homeownership could inadvertently set the stage for a fresh disaster.

Lending groups are demanding the Consumer Financial Protection Bureau take down its mortgage rate calculator, arguing it is providing misleading information to consumers.

Ed DeMarco, the former chief regulator of Fannie Mae and Freddie Mac, warned that efforts under the Obama administration to expand access to credit could risk repeating mistakes that led up to the crisis.

Policymakers should stop assuming that homeownership is always better than renting and recognize the economic circumstances that young people will live with for the foreseeable future.

Fannie Mae selected a chief internal auditor with an "inherent conflict of interest" and the mortgage giant's process for filling the position was faulty, according to a watchdog report to be released Wednesday.

Michael Stegman, a top housing policy adviser, urged regulators on Thursday to bring more private capital into the market, even in the absence of legislative momentum.

The Federal Housing Finance Agency won't keep renewing initiatives like the Home Affordable Refinance Program in perpetuity, even if it is extended again before it expires in December, Director Mel Watt said Wednesday.

KeyCorp has named Mark Danahy president of its mortgage operations. Danahy had been managing director of Citigroup's U.S. mortgage operation from July 2011 to May 2014 and, before that, was president and chief executive of PHH Mortgage.

An audit of Ginnie Mae financials identified four "material weaknesses" and one "significant deficiency," primarily related to the accounting of $6.6 billion in defaulted loans made by the failed lender Taylor, Bean & Whitaker.

The Federal Housing Administration's recent premium reduction is undercutting the private sector and expanding the government's role in the housing market, housing finance industry representatives told a House subcommittee on Thursday.

BB&T has received subpoenas from the Justice Department tied to a probe of the Winston-Salem, N.C., company's FHA lending.

One in three struggling homeowners who received a loan modification through the Home Affordable Modification Program ultimately redefaulted on those loan.Meanwhile, the program that was supposed to help some 4 million families avoid foreclosure has helped only a fraction of that amount, according to a report presented to Congress.

It's not quite too big to fail, but Ocwen is the country's largest servicer of subprime mortgages. So if it were forced to sell itself, or even failed, the transfer of some $410 billion in servicing rights could create havoc in the mortgage market, industry experts said.

CFPB officials are keeping a close watch on the Qualified Mortgage and ability-to-repay rules to gauge whether further changes should be made. But mortgage numbers don't give a clear picture on what kind of impact they've had.

Auction.com, an online real estate marketplace, has named Gordon Smith its general manager of commercial real estate.

Sen. Elizabeth Warren said community banks have continued to be profitable despite new rules under the Dodd-Frank Act while raising fresh warnings about unnecessary changes to the financial reform law in the guise of regulatory relief.

GOP lawmakers on Wednesday harshly criticized the Federal Housing Administration's recent move to lower insurance premiums, saying it violates the law and will be used to entice borrowers into predatory loans.

In unusually expansive comments, Consumer Financial Protection Bureau Director Richard Cordray provided new details Tuesday about proposals due soon from the agency while offering insights into an internal battle over easing a key mortgage rule.

The Consumer Financial Protection Bureau is raising concerns about the transparency and clarity of reverse mortgages based on more than a thousand complaints it received about the product.