Financial institutions

Gov. Jerry Brown’s administration sent letters Wednesday to 20 nonbank lenders that charge triple-digit annual percentage rates to try to determine if their use of online referrals is steering borrowers into larger loans than they want or need.

A former Federal Home Loan bank president argues that the system should limit its exposure to risky nonbanks.

LoanDepot's CEO Anthony Hsieh delivered a bracing message to mortgage lenders on Monday — strong new competitors are coming into this market, so they need to expand their offerings.

Four lenders, led by Sallie Mae, have long dominated the market for private student loans. But they could soon face new competition from Navient and Nelnet.

Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.

The industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.

Nonbank mortgage-backed securities servicers increase their exposure to agency loans as the housing market distances itself from last decade's crash, according to Fitch Ratings.

The federal bank regulators are considering roughly a dozen new rulemakings in response to the bill rolling back certain sections of Dodd-Frank.

Online lenders and other firms await news from OCC and Treasury on the future of their supervision, even as they absorb the news that Square had to temporarily pull its industry loan company application.