Mortgages

Merchants has agreed to buy NattyMac, a company it has been in business with since 2014.

The CFPB ordered Village Capital & Investment in Henderson, Nev., to issue refunds and pay a penalty for allegedly misrepresenting the cost savings in a refi product.

Reps. Lacy Clay and Emanuel Cleaver, both from Missouri, have shown interest in running the panel that could be a focal point in efforts to reform Fannie Mae and Freddie Mac.

Home prices are rising and first-time buyers now account for an increasing share of sales, factors that could lead to a surge in defaults during the next economic downturn.

The Democrat, who will likely head the Financial Services Committee, has signaled she'll make expanded housing opportunities for lower-income consumers a top priority.

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter.

Zions' Harris Simmons named Banker of the Year; distilling the hopes and hang-ups around CRA reform; new grist in still ongoing debate over Operation Choke Point; and more from this week's most-read stories.

Lawmakers have had to extend the program eight times since October 2017, as Congress has been unable to pass broader reforms.

The central bank may be looking at other benchmarks besides the fed funds rate to conduct monetary policy; dropping human appraisers from most home sales raises concerns.

The Federal Housing Administration's risk-sharing program with the Federal Financing Bank began as a temporary fix, but the agency is exploring how to make it more permanent.