Mortgages

As lenders redouble their efforts to measure the carbon impact of their loans, they’re finding that residential mortgages are often one of the biggest line items on their books.

Government stimulus programs are buoying consumers hurt by the coronavirus shutdown; the bank has been forced to sell loans to stay within the Fed-imposed $1.95 trillion asset cap.

There are millions of U.S. consumers who don't have access to traditional financial services. One challenger bank's mission is to help them overcome the barriers to financial inclusion.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed.

The housing agency's prior permanent chief, Brian Montgomery, left the position after he was tapped to become deputy HUD secretary.

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

The pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved.

The bill, backed by the New York Credit Union Association, has cleared the Senate, but a companion bill is stuck in committee in the Assembly.