Mortgages

The funding requests break sharply with the Trump administration's calls to eliminate key housing funds and backing for community development financial institutions. The White House also wants to substantially increase the budgets of the Treasury Department and the Small Business Administration.

The White House directive may lead regulators to develop new mortgage underwriting standards, stress-test requirements and flood insurance policy, observers said.

Only 0.9% of mortgage borrowers are currently at least 90 days delinquent. That figure could rise as high as 3.8% once pandemic-related deferrals lapse — still well below the 6% mark reached after the Great Recession, according to research by the New York Fed.

Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A congressional panel meeting to discuss the issue was once again split between lawmakers from storm-threatened states and those concerned about government costs.

Bank of America is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps.

The best-performing banks' revenue rose at nearly twice the rate of expenses thanks to mortgage refinancing and the Paycheck Protection Program.

Most of the activity covered vacant and abandoned properties or commercial loans, according to Attom Data Solutions.

The move formalizes the use of the Rocket Mortgage moniker, which has been a major part of the company’s branding since 2016.

The reduction in debt during the first quarter was the second largest on record, according to a new report by the New York Fed. Government stimulus payments and continuing limitations on travel and entertainment spending are key factors.

Minority-led community development entities often lose out in getting NMTC support. They know best which investments will have the greatest impact on communities of color.