Mortgages

The company says it plans to originate 40,000 mortgages for Black and Hispanic households and finance 100,000 affordable rental units over five years.

The company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission.

Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers.

The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan.

The former chairman of the National Credit Union Administration will work with the fintech to broaden its reach in the credit union space.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes.

The company's software can now be used to handle personal loans, credit cards and specialty-vehicle loans.

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending.

Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected customers.

Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again.

Measures designed to give banks and credit unions more flexibility to help customers weather the coronavirus pandemic are set to expire Dec. 31 unless Congress renews them.

The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.

On Jun. 30, 2020. Dollars in thousands.