Mortgages

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

This isn’t the first time the industry has faced an influx of funds amid a slowdown in lending, but this instance could prove harder to manage than in the past.

Housing advocates say lenders should require property owners who request loan forbearance to pause evictions during the coronavirus pandemic. But the banking industry says what’s really needed is another round of government stimulus.

The industry will have to grapple with pressure on net interest margins, interchange income and credit quality, said CUNA Mutual's Steve Rick during a virtual conference.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

CUNA Mutual Group previously provided this service through a joint venture with PMI Mortgage Insurance but exited the business in 2014.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.

The American Dream Down Payment Act would let states establish and manage accounts, which would be similar in structure to 529 college savings plans.

Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.

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.