Mortgages

Robins Financial recognizes trio of top employees, Numerica ramps up lending department and more CU professionals in the news.

Fourth-quarter profit dropped 5.4% as revenue from its mortgage business declined, Wells Fargo said Friday.

Bank of America, the second-largest U.S. lender by assets, said fourth-quarter profit rose 43% as revenue from fixed-income trading increased and expenses dropped.

Housing and Urban Development Secretary-designate Ben Carson is open to finding alternatives to the 30-year fixed-rate mortgage, but believes there must be some government backstop to the housing market.

HUD Secretary-designate Ben Carson is all but certain to get confirmed to his post—unless he makes a major mistake during his confirmation hearing.

Nondepository lenders are beating their bank competitors when it comes to both digital innovation and market share in the mortgage industry. As interest rates rise, banks will need to move toward electronic closings and adopt other innovations if they want to stay competitive.

The Federal Housing Administration said it would cut the annual premium by 25 basis points starting on Jan. 27, giving President-elect Donald Trump a limited window to delay or scrap the cut.

The Federal Housing Administration is cutting its annual mortgage insurance premium by 25 basis points, to 60 basis points, starting Jan. 27, the agency said Monday.

HSBC was fined $32.5 million for failing to comply with a 2011 consent order that directed the bank to revamp its mortgage servicing and foreclosure practices.

The Department of Housing and Urban Development has charged Bank of America with discriminating against prospective Hispanic mortgage borrowers at a branch in Charleston, S.C.

Loan modification activity has fallen dramatically at national banks over the past year, according to a report released Wednesday by the Office of the Comptroller of the Currency.

F&M Bank Corp. in Timberville, Va., has acquired Valley Southern Title in Harrisonburg, Va.

Proponents of "recap and release" misread the political risks and the depth of interest that key lawmakers have in determining the long-term future of Fannie Mae and Freddie Mac.

The Rural Housing Service is expanding its manufactured housing loan guarantee program to include more refinancings of used or existing manufactured homes.

The commercial-and-industrial loan space is overheated, higher rates could stifle mortgage refinancings, and subprime auto delinquencies are on the rise. Bankers could be fighting these fires and more in the new year.

WASHINGTON — The Federal Housing Finance Agency is making it easier for Federal Home Loan banks to expand the kinds of collateral they can accept for advances.

PHH is selling its remaining residential mortgage servicing portfolio to the real estate investment trust New Residential.

The Department of Justice has agreed to a settlement with a pair of Cincinnati banks accused of redlining African-American neighborhoods in four cities in Ohio and Indiana.

It's unclear how the new political environment will affect the platform's viability or how investors will view the securities issued on it. The next year could determine the project's success and role reshaping the secondary mortgage market.

Deutsche Bank AG will have to clear a lower capital hurdle next year, joining other European lenders who are benefiting from a change in how the European Central Bank sets the requirements.