Mortgages

Cathy Bessant, BofA’s chief operations officer, is the Most Powerful Woman in Banking; 6 standout fintechs at Finovate 2019; the Citi CEO says gender pay gap is ‘a challenge we need to tackle together’; and more from this week’s most-read stories.

The three federal banking agencies moved to raise the threshold for residential transactions that require an appraisal from $250,000 to $400,000.

Readers sound off on climate change, the Federal Reserve's incoming real-time payments system, efforts for gender pay equity and more.

The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report.

Wells Fargo still having trouble finding permanent CEO; Some lenders are using the deals to keep their best customers.

While no one is suggesting that the plan will help banks regain the share they've ceded to nonbanks, bankers believe that stabilizing Fannie Mae and Freddie Mac could at least help them keep what they have.

Industry groups are calling on the consumer bureau to eliminate the debt-to-income limit for “qualified mortgages” and provide a short-term extension of special treatment for Fannie- and Freddie-backed loans.

Building capital will help the mortgage agencies move toward the private sector; Virtual Wellness needs to assure banks it's safe to do business with them.

Diane Morais, the head of consumer and commercial banking for Ally Bank, is forthright about what went wrong after her institutions started offering mortgages in 2017 — and how the institution went about fixing the situation.

While many lenders lately managed their business expecting reduced volume, now they get to capitalize on extremely low mortgage rates. But today's benevolent conditions will not always be with the industry.

CUNA Mutual Group found that loan balances increased by 6.6% for the year ending in the second quarter.

The Michigan company sold collateral tied to Live Well, a mortgage company that has filed for bankruptcy protection.

The proposed reforms of Fannie Mae and Freddie Mac have gotten all the attention, but the administration also wants to scale back the Federal Housing Administration, expand its capital cushion and adopt risk-based pricing. Some of the ideas have former agency officials concerned.

The mortgage industry has put more emphasis on organizing data in a digital manner and presenting it in an easily digestible format.

Hispanics will make up more than half of new homeowners by 2030, and credit unions need to actively market to this demographic, according to a panel discussion at Inclusiv's annual conference.

Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules.

The FHFA can go beyond a recent Trump administration report to level the playing field between the private sector and Fannie Mae and Freddie Mac.

With the ongoing issue of the affordable housing crisis, the Mortgage Bankers Association – which many credit unions are members of – got behind the Build More Housing Near Transit Act, a bipartisan bill introduced in the House of Representatives.

On Jun. 30, 2019. Dollars in thousands.

On Jun. 30, 2019. Dollars in thousands.