Mortgages

In the agreement, the bank denied allegations that it refused to issue a mortgage until one of the applicants returned to work from maternity leave.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

The 30-year average has risen by more than a full percentage point in a little over a month.

Mike Roffler, the San Francisco bank’s incoming chief executive, says he’s not shifting strategy. During the first quarter, the company leaned on its mortgage business, where customers moved to lock in refinancings before interest rates rose.

The key for bankers to stay safe from mystery shoppers using aggressive techniques — many of whom are well funded by community investment pacts with megabanks — is to adhere to proper lending practices 24/7.

Vice President Kamala Harris will announce new steps designed to reduce the cost of federal home loans for Americans saddled with medical debt and make it easier for veterans to have loans forgiven, as part of a White House push to help the millions facing unpaid health care bills.

A former Wells Fargo executive will replace Bair next month as part of a broader shakeup of the government-sponsored lender's leadership ranks. Chief Executive Hugh Frater is also stepping down.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

The Consumer Financial Protection Bureau argues borrowers in the case had a right to answers even if the inquiries were origination related and foreclosure litigation was pending.

The core function of the Federal Home Loan Bank System — advances to member institutions — plummeted 20% last year to $350 billion, its lowest level in 15 years. That erosion of purpose is emboldening critics, who say the Home Loan banks need to change or face irrelevance.