Mortgages

The expanded credit access in its automated mortgage decisioning goes into effect in mid September.

Small increases in commercial real estate loan volumes, particularly at midsize banks, may be indicators that the sector has weathered the worst of the pandemic. Construction loan originations, which tend to fall sharply during a recession, are leading the way.

Despite clear evidence to the contrary, the mortgage insurer continues to insist that credit unions have the same risk profile as nonbank lenders. It’s now threatening to exclude nearly a quarter of credit unions from being qualified issuers of the securities it backs.

Steven Schnall, the New York community development financial institution's founder and CEO, discusses its plans to let customers buy and sell bitcoin through their bank accounts, use a ring to make debit card purchases and have a better shot at a home loan.

Republicans on the Senate Banking Committee objected to Biden administration picks for key jobs at the Department of Housing and Urban Development based on their past criticism of police practices. The nominees, including the prospective Federal Housing Administration chief, said their statements were taken out of context.

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

The industry had tightened up last year in the face of COVID-19. But as the economic outlook improves, banks are now easing criteria amid heightened competition, according to the Federal Reserve’s survey of loan officers.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

A hike in guarantee fees charged to lenders for the companies’ backing of loans was due to expire this year, but lawmakers now want to extend it to raise $21 billion for the bipartisan package.