Mortgages

It is essential to place the central focus on race, to bring nondepository mortgage lenders under the Community Reinvestment Act umbrella and to address bias in home appraisals.

The Justice Department, Consumer Financial Protection Bureau and three state attorneys general alleged that Trident Mortgage, a lender owned by Berkshire Hathaway, engaged in redlining and discrimination in the Philadelphia area.

In a wide-ranging interview with American Banker, Consumer Financial Protection Bureau Director Rohit Chopra talked about litigating against large firms, fighting overdraft fees and reining in Big Tech.

In her new book, “Direct: The Rise of the Middleman Economy and the Power of Going to the Source,” Columbia Law professor Kathryn Judge examines how middlemen offer — and often limit — consumer choice.

NBT Bancorp’s planned $10 million commercial real estate fund could have a big upside for its CRA rating, while also improving housing in its communities.

Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.

Wells Fargo missed analysts’ earnings estimates as home lending slowed and the bank set aside more than expected for potentially soured loans as the Federal Reserve’s rate hikes started to cool the once-hot housing market.

The San Francisco bank reported a 31% increase in loan originations during the second quarter. Analysts are wondering whether it will be able to secure enough low-cost funds to avoid eroding margins.

Several groups raised concerns at a public hearing about the Canadian bank’s proposed acquisition of Bank of the West. They accused BMO of shortcomings in its mortgage lending to Black and Latino borrowers and said they won’t support the deal without the bank's firm commitment to help underserved communities.

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.