Mortgages

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year.

Like so many other businesses, Credit Karma was not spared by the pandemic and its rippling effects on the economy. Their business was prone to the same macro conditions, particularly the tightening of lending standards and credit limits. Join Paul Centopani, National Mortgage News' reporter and Andy Taylor, Credit Karma's General Manager of Home & Mortgage as they discuss how FinTechs can pivot to adapt to the new normal.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

The reduction currently under consideration by the Biden Administration would lead to even faster home price appreciation, especially in areas with moderate FHA presence, says Tobias Peter, the American Enterprise Institute’s director of housing research.

The agreement with plaintiff MBIA Insurance resolves a lawsuit tied to the sale of mortgage-backed securities that plummeted in value during the 2008 financial crisis.

Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year.

While loan performance is improving in aggregate, some borrowers remained unaware of the relief available or were unable to access it, according to the Research Institute for Housing America.

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.

Bank of America pledged to add $10 billion to an affordable homeownership program through 2025, tripling its initial commitment.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.