Mortgages

The Treasury Department and a key housing regulator are preparing to fill a second possible vacancy atop a U.S.-controlled mortgage giant, a move that could strengthen the Trump administration's hand in addressing unfinished business from the 2008 credit crisis.

On Jun. 30, 2018. Dollars in thousands.

Maybe political winds or another downturn will spark housing finance reform. But 10 years after the conservatorships began, the companies are still in perpetual limbo.

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The Supreme Court upheld using “disparate impact” over three years ago. But with HUD weighing a policy change, banks and advocacy groups are still at odds over the court decision.

The Congressional Budget Office has found that restructuring the mortgage market would save the government billions of dollars but may increase the cost of housing.

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.

Wells Fargo & Co. is cutting 638 mortgage employees as the nation’s largest home lender contends with a slowdown in the business.

A deceleration in mortgage balances ends CIBC's three-year streak of outpacing Canada's other large lenders on mortgage growth. Royal Bank of Canada said this week that mortgage balances were 5.9% higher than a year earlier.

President Donald Trump's former campaign chairman was convicted on eight fraud counts, including two counts of bank fraud. He faces jail time on each count.

The employee who made sexual harassment allegations against the agency’s director also claims Watt withheld her pay increase after she refused his advances.

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.

A number of banks have stepped up efforts to lend to residential developers, though they are mindful of missteps made before the financial crisis.

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.

Top U.S. housing regulator Mel Watt is privately reassuring people close to him that he will keep his post as authorities investigate an employee's claims of sexual harassment. Now, his accuser is heightening the pressure — speaking out publicly for the first time.

On Mar. 31, 2018. Dollars in thousands.

On Mar. 31, 2018. Dollars in thousands.

The bank said it has received subpoenas related to low-income housing tax credits; write-offs of bad credit card debt creep up.

The Michigan company had been operating under the supervisory agreement since 2010.

The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.