Mortgages

Gateway Mortgage Group’s dream of being a national, diversified financial services player will hinge on its effort to turn a community bank into an online-only platform.

Along with amendments to the Bank Secrecy Act, the Taxpayers First Act could help credit unions maintain their tax-exempt status.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.

B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.

The moves are part of an ongoing effort by the Seattle bank to largely exit mortgage lending.

The two banks will each give $15 million to the Foundation for the Carolinas, which supports affordable housing development in Mecklenburg County.

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Readers react to Sen. Elizabeth Warren's "too big to jail" bill, respond to legislation prohibiting banks from denying service to gun dealers, consider the impact of housing finance reform on small lenders and more.

On Sep. 30, 2018. Dollars in thousands.

The CEO of the nation's largest bank urged policymakers to ease capital rules for banks and tackle inefficiencies in the housing markets, while offering bold ideas of his own on education and health care.