Mortgages

Changes to loan-level price adjustments are perfectly consistent with the FHA's mission and with the safety and soundness of Fannie Mae and Freddie Mac.

Because the bank occupied a niche in serving ultra high-end consumers, experts question whether its receivership will make other depositories more reluctant to offer jumbo loans.

The troubled lender could fail, get rescued by the nation's largest banks or muddle through as a zombie bank. Federal regulators and the big banks will have to decide which is the least bad option.

The groups also want regulators to downgrade the Cleveland bank's rating under the Community Reinvestment Act. The demands represent an escalation of a dispute over whether Key fulfilled promises it made under a 2016 community benefits agreement.

Consumers are receiving demand letters on loans they have not had any communication about in at least 10 years, the regulator said.

The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.

Home loan applications dropped for the second time in three weeks, with the 30-year conforming interest rate ticking up 13 basis points, according to data from the Mortgage Bankers Association.

The asset manager on Tuesday is set to begin a monthslong process to help the Federal Deposit Insurance Corp. offload $114 billion of assets it picked up from Silicon Valley Bank and Signature Bank. 

The San Francisco bank identified "signs of weakness" and increased its loan loss reserves substantially. Small and midsize banks have significantly larger exposures than Wells does to the office segment, which has been hit by changing work habits.

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.