Compliance & Regulation

Two separate programs providing as much as $10,000 in assistance are open to eligible borrowers in the Philadelphia area.

When 55 banks were asked to provide metrics on the health of their commercial real estate borrowers, some of them gave data that was six months old. The survey by Moody's Investors Service also found that certain borrowers are already struggling, and others could hit trouble soon, since they'll need to refinance at high interest rates.

The U.S. Securities and Exchange Commission is probing the non-QM lender, which pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter. 

Banking regulators have been debating how to reform the implementing regulations for the Community Reinvestment Act across two presidential administrations. But despite banks' urging to slow down, regulators are poised to finish the job in early fall.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.

The American Bankers Association and Bank Policy Institute Tuesday urged bank regulators to delay the finalization of its Community Reinvestment Act rule, saying regulators have not calibrated the rule to account for upcoming capital changes or considered whether courts will find the Consumer Financial Protection Bureau's funding structure constitutional.

The watchdog accuses the mortgage shop of providing illegal incentives to real estate brokers and agents, such as cash payments, paid subscription services, and catered parties, in return for purchase business.

The verdict ends a decade-long lawsuit over the Federal Housing Finance Agency's amendment to a stock repurchase agreement in 2012.

Fannie Mae and Freddie Mac can likely withstand potential credit losses twice as high as last year's in the latest scenario, but they are at more risk of slipping into the red.

Firms that had ratings cut included M&T Bank, Webster Financial, BOK Financial, Old National Bancorp, Pinnacle Financial Partners and Fulton Financial.