The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic....
NextGenMortgage
Fed’s Barr frames capital reform as final chapter of Dodd-Frank
The Federal Reserve's top regulator cited the financial crisis of 2008 repeatedly in a speech about the merits of new risk-capital standards — proposals that have drawn unprecedented fire from banking trade groups and members of Congress....
Fannie Mae, Freddie Mac should be enabled to buy MBS, trade groups say
The change, even if temporary, could help to reduce spreads to Treasurys and bring down rates, the Community Home Lenders of America, the Independent Community Bankers of America and the National Association of Realtors argue....
Adjustable-rate mortgages surge with lending near longtime lows
As housing-industry groups sought relief from the Federal Reserve, overall loan-application volumes eked out a weekly gain last week thanks to ARM activity, the Mortgage Bankers Association said....
Fitch downgrades Finance of America on losses in strategic shift
While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player. https://www.nationalmortgagenews.com/news/fitch-downgrades-finance-of-america-on-losses-in-strategic-shift