Tag Archives: Banks

The Community Reinvestment Act (CRA) is headed for changes by The Treasury and will relook at reinvestments of banks towards supporting community needs through initiatives such as fair mortgage lending, affordable housing development, small business lending, and similar activities. In ...

Editor’s note: this feature originally appeared in the March issue of DS News, out now.  In the past decade, decreasing volumes on both the servicer and attorney side have forced companies to tighten their belts to remain profitable. One area ...

Technological innovation is changing the way the mortgage industry works, and the model followed by lenders who have embraced technology such as end-to-end online mortgage application and approval processes have made lending a less risky prospect, according to a report ...

The third quarter of 2017 saw many of the larger bank servicers scaling back their portfolios of residential mortgage-backed securities (RMBS), while smaller regional banks and non-bank servicers moved to seize the opportunity, as reported by Fitch Ratings’ latest RMBS ...

Customer service is the key to success for any business, banks included. So how did some of the biggest—and smallest—banks fare when it comes to customer complaints?

It’s been a week since the OCC outlined its policies on downgrading a bank due to discriminatory or illegal credit practices. See what response the regulator has generated.

With traditional lending systems such as banks not meeting the needs of consumers, fintechs and online lending platforms have become a much more valuable resource for investors and consumers. Fintechs can use non-traditional data to underwriting and lending techniques to assess the credit worthiness of loan applicants using online information gleaned from social media, etc., notably loan applicants that may appear as “credit invisible” to other institutions. However, this "alternative data" brings security risks.

On Wednesday afternoon, Treasury Secretary Steven Mnuchin released a tax reform plan which could have a significant impact on the mortgage industry and the financial industry as a whole. In an interview with The Hill, Treasury Secretary Steven Mnuchin called the tax cuts in President Trump’s reform “The biggest tax cut and largest tax reform in history of this country.” The proposal calls for a reduction of corporate taxes down to 15 percent, cutting the top tax bracket down to 35 percent, and doubling the standard deduction.

Following the election of Donald Trump, the financial sector, including banks, saw a average earning growth of 16.4 percent, with revenue growing over 9 percent. Bank stocks fell 1.5 percent during the first three months, though have remained high and stable since.

JPMorgan Chase CEO Jamie Dimon stated in a letter to shareholders that the issue of “too big to fail” is solved. However, Minneapolis Federal reserve President Neel Kashkari disagrees. In an interview with Adam Shapiro on Fox Business that Too Big to Fail has not been solved, and is in fact worse.