Corporate finance

Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

Freddie Mac shares rose to $4.14 at 12:30 p.m. in New York Friday, Fannie Mae's stock climbed to about $4.23, each up 22% from the previous day's close.

Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.

Lower rates during the period helped independent mortgage bankers make money on their originations but they posted losses on servicing.

The Dallas-based bank swung to a loss in the third quarter after reclassifying a large bundle of multifamily loans that it plans to offload under a recently announced strategy pivot.

The Federal Housing Finance Agency issued a proposed rule for the Federal Home Loan Bank System that allows the FHFA director to set "reasonable" board compensation.

Analysts peppered CEO Jane Fraser with questions about whether Citigroup, already hit hard by its regulators, could face asset growth restrictions. She said there is "absolutely nothing" in the works that could impact the megabank's businesses.