Mortgages

FNBH Bancorp in Michigan has been unable to make an important move without its primary regulator's OK in the six years since its nonperforming assets hit double digits. It's an extreme example of the tension between past problems and future visions that freezes many banks.

Wells Fargo's head of mortgage lending, Mike Heid, will retire in October. The San Francisco company will promote Franklin Codel, head of mortgage production, to succeed Heid as head of Wells Fargo Home Lending.

Consumers' growing confidence about their ability to qualify for a mortgage is generating more foot traffic, sales orders and loan volume for some of the nation's largest homebuilders.

Ocwen Financial's internal review group is "independent," and the Atlanta servicer is in compliance with the national mortgage settlement, settlement monitor Joseph A. Smith said Tuesday.

Walter Investment Management in Tampa, Fla., said its second-quarter loss widened, as it recorded a goodwill impairment charge in its reverse mortgage division.

A federal judge has overturned a New York City law that would have required banks to make new disclosures regarding their investments in local communities.

The range of loan products offered by mortgage lenders and investors has been narrow since the housing crisis, but a few underserved niches are starting to make a comeback.

M&T Bank's disclosure that it is in settlement talks with the Justice Department for not complying with underwriting guidelines on FHA loans has renewed fears that more lenders will be targeted.

Bank of America is offering $1.2 billion of mostly delinquent home loans, extending a series of sales by lenders seeking to pare holdings and meet demand by investment firms for soured mortgages.

Despite being introduced to the market with great fanfare, Fannie Mae's 3% down payment mortgage offering has yet to gain much traction with lenders and consumers.

Atlantic Coast Mortgage's Ashley Smith explains why keeping her referral partners happy is the key to her success as a loan officer.

M&T Bank said it's in discussions with U.S. officials to settle an investigation into the lender's origination and sale of federally insured home loans.

The Consumer Financial Protection Bureau has ramped up its push for the mortgage industry to switch to an electronic closing process after results from a pilot program showed consumers favored it over in-person mortgage closing.

Prospective borrowers for single-family homes will be required to make a minimum down payment of 15% of the purchase price, down from 20%. The borrower must have a minimum FICO score of 680, down from 740.

Freddie Mac's second-quarter single-family funding was the strongest it's been in a year, positioning the company to supplant the coming drop in refinancing with purchase mortgages.

The first stress tests for regional banks show loan losses closely in line with the postcrisis period. However, an independent analysis suggests losses likely would be even higher.

An estimated 12 million Americans buy used cars through informal channels each year. Those consumers are underserved by traditional auto lenders, says Lending Club Chief Executive Renaud Laplanche.

Lawmakers included a measure that will impose new mortgage reporting requirements on banks and servicers as part of a short-term highway funding bill passed this week by both chambers of Congress.

Wells Fargo is ending some marketing arrangements with real estate firms and home builders over concerns about regulatory scrutiny.

Home Affordable Modification Program denial rates are still high, but the Treasury Department and top mortgage servicers contend that the numbers have improved.