Mortgages

The Consumer Financial Protection Bureau has moved ahead with an earlier proposal to postpone the full adoption of the qualified-mortgage ability-to-repay rule, citing a need to maximize borrowers' credit access.

It would be available to homeowners making 80% or less of their area’s median income who weren't eligible to tap into low rates last year.

The investment, tied to PNC's deal to acquire BBVA USA, was always going to be large but seemed to grow as CEO Bill Demchak got intimately involved in the discussions and the needs of communities and businesses hit hard by the coronavirus pandemic became more apparent.

The Dallas company will pay nearly $54 million for a 49% stake in a lender that operates in 10 states.

The end of the refinancing boom and impending rise in rates are not the only challenges lenders face. As one observer put it, they "can't make loans on homes that don't exist."

At first the deal seemed an unlikely marriage of two mortgage-heavy companies. But acquiring the Michigan company would help New York Community accomplish its two chief goals — reducing deposit costs and its concentration of multifamily loans — while giving it the scale to pursue more deals.

The lender will expand certain mortgage products, like its HomeRun program, which requires lower down payments and removes mortgage-insurance requirements for lower-income borrowers.

Deposits keep flooding in, mortgage lending shows signs of cooling, and bankers can’t agree on when commercial lending will rebound. Here’s what we learned from first-quarter results.

The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.

The Dallas company agreed to sell MSRs tied to $14 billion of mortgages to PHH Mortgage.

The quarter-to-quarter increases bested expectations, suggesting that large banks are regaining market share in mortgage lending

Federal Housing Finance Agency Director Mark Calabria said he wants to work with the consumer bureau on an “exit strategy” for borrowers approaching the end of their forbearance periods.

If passed, the Affordable Housing Credit Improvement Act introduced last week could spur development of 2 million rental units for low- and moderate-income households over the next decade.

The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.

Loan growth and wealth management revenue drove a 53% increase in the San Francisco bank's profit from a year earlier.

Gensler is poised to confront everything from the fallout of the GameStop trading frenzy to the collapse of Archegos Capital Management.

It's no longer a matter of if, but when, regulators will require banks to document the impact of global warming on their loan portfolios and other operations.

Nonbanks claimed more of the top slots based on loan volume, while the origination gains experienced by Hispanic, Black and Native American borrowers were weaker than those of other groups.

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.

One official at the bureau said this fall could be an “unusual point in history” for the mortgage market as delinquent borrowers exit forbearance plans. The agency proposed new steps for servicers to help consumers stay in their homes.