Mortgages

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

The reduction currently under consideration by the Biden Administration would lead to even faster home price appreciation, especially in areas with moderate FHA presence, says Tobias Peter, the American Enterprise Institute’s director of housing research.

The agreement with plaintiff MBIA Insurance resolves a lawsuit tied to the sale of mortgage-backed securities that plummeted in value during the 2008 financial crisis.

Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year.

While loan performance is improving in aggregate, some borrowers remained unaware of the relief available or were unable to access it, according to the Research Institute for Housing America.

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.

Bank of America pledged to add $10 billion to an affordable homeownership program through 2025, tripling its initial commitment.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.

On Sep. 30, 2020. Dollars in thousands.

On Sep. 30, 2020. Dollars in thousands.

Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.

The company is exploring a range of options to diversify its balance sheet, but new CEO Thomas Cangemi says the best plan of attack is to merge with or acquire another institution.

Amerant Mortgage includes several former bankers from City National Bank of Florida in Miami.

The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending.

President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen.

Loan originations hit a record $16.7 billion in the fourth quarter, though executives caution that a recent rise in mortgage rates could slow refinancing activity.

The bank agreed to acquire A Mortgage Boutique, which operates in six states.

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity.

Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are renewing questions about credit quality.

Sen. Sherrod Brown, D-Ohio, said elevating affordable housing issues, examining the financial system through a climate and racial justice "lens" and holding banks accountable for their impact on consumers will be among his priorities.