Two cryptocurrency-sector banks have turned to the federal mortgage system to ease customer withdrawals. Silvergate Capital and Signature Bank have borrowed billions from Federal Home Loan Banks, the system created to back mortgage lending during the Great Depression, The Wall Street Journal (WSJ) reported Saturday...
According to Geoff Green, global head of mortgage and lending at Salesforce, the experience of applying for a mortgage is ripe for change. The process is known for an abundance of paperwork — but that can (and should) change with cloud-based technology that simplifies the...
In what is becoming what seems to be a familiar theme as banks report earnings, trading revenues plummeted at the end of last year, but other drivers remained intact. As noted by JPMorgan on Tuesday morning (Jan. 15), earnings for the fourth quarter of 2018...
After PHH Corp.’s appeal of a $109 million penalty caused a legal battle over the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) structure, agency officials are recommending that Director Mick Mulvaney dismiss the company’s case, American Banker reported. “Enforcement counsel and respondents have conferred,...
May 23, 2017
It took almost a full decade, but Americans’ debt level has reached a new all-time high, surpassing the $12.68 trillion peak it reached in the fall of 2008 — the same time that the Great Recession was earning its place in the history books. According to the latest data out of the New York Federal […]
May 20, 2024
The Consumer Financial Protection Bureau (CFPB) is looking to improve “competition, choice and affordability” in credit reporting costs and other mortgage closing costs. In prepared remarks for a speech at a Mortgage Bankers Association conference, CFPB Director Rohit Chopra said Monday (May 20) that the agency is doing so at a time when mortgage lenders have told it that costs for credit reports and scores […]
January 22, 2023
Two cryptocurrency-sector banks have turned to the federal mortgage system to ease customer withdrawals. Silvergate Capital and Signature Bank have borrowed billions from Federal Home Loan Banks, the system created...
June 06, 2018
After PHH Corp.’s appeal of a $109 million penalty caused a legal battle over the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) structure, agency officials are recommending that Director...
April 24, 2018
Seeking to inject more transparency into the Consumer Financial Protection Bureau (CFPB), Rep. Sean Duffy, R-Wis., has introduced legislation designed to do just that. American Banker reported that Duffy, along with co-sponsor...
