Mortgages

Now that the Consumer Financial Protection Bureau says it will scrap an unpopular standard for so-called qualified mortgages, the big question is what will take its place.

After maintaining a $250,000 exemption threshold for real estate appraisals for nearly 20 years, the National Credit Union Administration is set to raise that limit to $400,000.

Mortgages, auto loans and credit cards should perform well for the next two quarters. Beyond that, all bets are off.

Mike Weinbach, chief executive of the home lending business, is departing JPMorgan Chase after 16 years.

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.

Lower rates spurred a lot of unexpected mortgage business in 2019 but credit unions need to prepare themselves for what happens once the boom ends.

The company, which sold the business to a group of former employees, will shut down its operation this quarter.

The company acquired ResX Warehouse Lending from People's United Financial.

The agency is sending a strong message that it won’t rush to end an exemption for Fannie Mae and Freddie Mac while also signaling longer-term changes that will affect all lenders.