Mortgages

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.

The OCC said Citigroup's main bank subsidiary violated the Flood Disaster Protection Act by not ensuring that borrowers with homes in flood hazard areas had insurance coverage.

Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021.

People's United in Connecticut is letting the loans run off its books as it invests in higher-yielding commercial loans.

The agency issued a fair housing proposal last month that would perpetuate segregation and make it harder to detect discrimination.

A tough fourth quarter seemed to foreshadow challenges in the year ahead for the nation’s fifth-largest bank.

Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.