Mortgages

Recent letters from NAFCU and CUNA called on the Consumer Financial Protection Bureau to provide a carve out in its payday lending rule for loans made by credit unions.

As Metro Bank’s problems mount, calls for Hill’s ouster as chairman are getting louder.

In his first public policy speech as director of the Federal Housing Finance Agency, Mark Calabria stressed that Fannie Mae and Freddie Mac will have to raise significant capital via a public offering and take other steps in order to escape government control.

It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.

Two senators, a Republican and a Democrat, have revived legislation that would prohibit Congress from using certain fees collected by Fannie Mae and Freddie Mac to offset unrelated government spending.

It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.

The bank plans rollout of a global cash management business; the lead Democrat on the Senate Banking Committee “not optimistic” about privatization.

On Dec. 31, 2018. Dollars in thousands.

New legislation in Iowa that allows banks and credit unions to use electronic notaries could help local lenders compete with online competitors.

On Dec. 31, 2018. Dollars in thousands.

The Federal Housing Finance Agency has named three senior advisers for policy, economics and communications.

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral.

The credit union regulator’s proposal to raise the threshold for home-sale appraisals to $1 million could introduce more risk into the financial system, particularly if bank regulators follow suit.

The London bank, founded by American entrepreneur Vernon Hill, has lost three-fourths of its market value since British regulators found that some of Metro’s mortgages were given the wrong risk weighting.

New legislation in Iowa that allows banks and credit unions to utilize electronic notaries could help local lenders compete with online competitors.

Housing advocates and Democratic lawmakers want to create more protections for tenants of rent-controlled apartments, but they are facing stiff opposition from property owners and the banks that lend to them.

The bank may end its venture with First Data to work on its own; State Street and BNY Mellon's fee revenue from investor clients and stock prices are down.

The industry welcomed a proposed overhaul of how the government identifies False Claims Act violations, but some say it remains to be seen if the changes are enough to satisfy companies that had bolted.

The credit union regulator’s proposal to raise the threshold for commercial appraisals to $1 million could introduce more risk into the financial system, particularly if bank regulators follow suit.

ECGS urges investors to oust the chairman and three executives; financial companies using AI to help adults manage their elderly parents’ finances.