Banking and Lending

FOMC Members Concerned About Small Banks And CRE Lending

Yesterday’s release of meeting minutes from the Federal Open Market Committee’s July 25-26 meeting garnered plenty of headlines due to the dialogue between FOMC members suggesting a rate increase in December may not be as certain as some had initially thought. But smaller banks were not left out of the FOMC’s discussion.

Fannie And Freddie Stick With Outdated Credit Scoring

Fannie And Freddie Stick With Outdated Credit Scoring

If you’ve been waiting for the long-anticipated news that the two dominant players in the home mortgage arena – Fannie Mae and Freddie Mac – finally have decided to overhaul their outdated credit scoring systems to expand homeownership opportunities for a broader range of consumers, sorry. Your wait just got a lot longer.

PHH Settles With DOJ For Over $74M

PHH Corp.. PHH Mortgage Corp. and PHH Home Loans (collectively, PHH) have agreed to pay the United States $74,453,802 to resolve allegations that they violated the False Claims Act.

NAMB July 2017 Survey Shows Gen X Dominates The Mortgage Market

Gen Xers, the demographic cohort following the Baby Boomers and preceding the Millennials, are dominating the mortgage market, according to the results of the National Association of Mortgage Professionals’ most recent monthly member survey.

Loan Delinquencies Approach 10-Year Low In May

The share of mortgages nationwide that went from current to 30 days past due was 0.8 percent in May 2017, compared with 0.9 percent in May 2016 and approaching a 10-year-low, according to a recent report from CoreLogic, a global property information firm.

How Much Does The Public Know About The Fed?

Many Americans do not know the last time the Federal Reserve raised interest rates, and nearly two-thirds of the country think the Fed needs improvement.

Wells Fargo To Pay $108M Over Hidden Fees For Veterans

Wells Fargo will pay the U.S. government $108 million to settle a whistleblower lawsuit claiming it charged military veterans hidden fees to refinance their mortgages, and concealed the fees when applying for federal loan guarantees.