Mortgages

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.

The American Bankers Association's latest Credit Conditions Index points to a drop in lending and a rise in loan delinquencies through the second and third quarters.

Two housing-policy experts whose previous recommendations have been closely followed by the Biden administration are defending the Federal Home Loan Banks, raising the stakes in a debate over whether a major overhaul is needed.

This congressionally mandated mission plays a critical role in funding important projects in communities across the country.

The agency said it will include home valuation practices in its fair lending review. It's the latest effort by a Washington regulator to root out discriminatory practices in the profession.