Economy

The bank gained $45 million in PACE financings, which let homeowners pay back the costs of efficiency projects over time.

The new regulation, codifying requirements already in practice, is meant to help the mortgage giants prepare for the adoption of a uniform security in June.

Figure, the startup headed by Mike Cagney, uses blockchain technology to provide home equity loans in as little as five days. It intends to use the newly raised funds to offer other services, including wealth management.

The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages.

The rating agency has developed rating criteria for bonds backed by oil and gas royalties, though such deals would be capped at the 'A' rating category.

Industry observers will be closely monitoring Mark Calabria's testimony before the Senate Banking Committee on Thursday for hints about how the Trump administration plans to proceed on mortgage finance reform.

Late payments on loans backing commercial mortgage bonds continued falling at the start of the year, due to strong new issuance volume and continued resolutions for precrisis loans by special servicers, according to Fitch Ratings.

Recent developments give the impression that the administration and lawmakers are in direct competition, but the ultimate framework may rely on coordination from both branches of government.

Absent some policy change, nearly a third of the loans backed by Fannie Mae and Freddie Mac could be in violation of the Consumer Financial Protection Bureau's Qualified Mortgage rule in two years.

As policymakers consider administrative reforms to Fannie and Freddie, they must address the problem of capital arbitrage to avoid overleveraging the mortgage system.

Plans to begin rating securitizations backed by fix-and-flip mortgages may help lenders create new capacity and satisfy growing demand for short-term financing of house flipping projects.

While the London interbank offered rate won't go dark until 2021, the commercial real estate finance industry should start preparing for the transition now, says the Mortgage Bankers Association.

Policymakers should not let mortgage REITs, hedge funds and other firms gain membership through captive insurance companies.

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.

Loans in commercial mortgage-backed securities originated after 2009 by nonbank lenders have a significantly higher default rate than those originated by banks, a Fitch Ratings report said.

A lapse in rental-assistance funding, an understaffed FHA and other effects of the government shutdown are causing real harm to families, said the chair of the House Financial Services Committee.

Lagging construction, rising interest rates and the broader economy don't really bode well for buyers of commercial real estate, but most CRE lenders still expect originations to increase in 2019, according to the Mortgage Bankers Association.

The White House has officially nominated Mark Calabria as the next director of the Federal Housing Finance Agency.

Steven Mastrovich joins the firm a week after the departure of partner and CRE/CLO specialist Steven Kolyer for Sidley Austin.

The single-family rental market could benefit from more consistent loan terms and expanded secondary mortgage market opportunities, Freddie Mac found in a preliminary test of expanded involvement in the sector.