CBC Mortgage Agency (CBCMA) announced that $14 million in affordable home loans have been purchased to date via the company's online platform—CRA Note Exchange. CBCMA's aim is to help low-moderate income consumers, often in minority neighborhoods, achieve the dream of homeownership.
Read More »Banking Industry Lends Support to Workers, Consumers
Click through to see what JPMorgan Chase and Bank of America are doing to help Americans financially during the COVID-19 outbreak.
Read More »Growing the Role of Non-Bank Lenders
Regulators are considering allowing additional funds to expand the role of nonbanks like REITs as the nature of the big banks in mortgag lending shifts.
Read More »Industry Impact: Regulators Revise Volcker Rule
While banks expressed their support of the revised rule, here's who stated that the revision "amplifies risk in the financial system."
Read More »Wells Fargo Addresses Technical Glitch
While an expanded review of its loan modification products revealed more borrowers being impacted than originally envisaged, here are some steps that the bank plans to take to remediate this error.
Read More »Bank of America Income Rises on “Solid Loan Growth”
Bank of America reported that its overall average loans and leases increased 6 percent from the third quarter last year. Here’s how its residential mortgage loan operations grew during this period.
Read More »Why Wells Fargo Agreed to Pay a $2B Penalty
On Wednesday, Wells Fargo agreed to pay a fine of more than $2 billion for allegedly misrepresenting the quality of loans used in Residential Mortgage Backed Securities. Here's why the bank agreed to pay this amount in a settlement with the Department of Justice.
Read More »Mortgage Lending: An Innovative Space
Eric J. Schuppenhauer, President of Home Mortgage at Citizens Bank gives his insights into the cyclical nature of the industry, innovation in a higher rate environment, and why it’s important to be passionate about your work. Editor’s Note: This feature originally appeared in the July issue of MReport.
Read More »Anticipating Bank of America’s Loan Originations Performance
The bank reported higher earnings in the second quarter of 2018 and expects consumer real-estate originations to remain solid. Here’s what Bank of America said it expects from its mortgage portfolio in the second half of 2018.
Read More »The Week Ahead: Bank of America Q2 Results
On Monday, Bank of America will release its second-quarter results. Here’s what else is in store in The Week Ahead.
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