Wells Fargo free to grow again after Fed lifts $1.95T asset cap
Lifting of the asset cap could give the bank greater leeway to originate jumbo mortgages that exceed Fannie Mae and Freddie Mac’s $806,500 conforming loan limit in most markets
by Matt Carter Jun 4
$18.5M in fines imposed on former Wells Fargo execs prove elusive
Under new leadership, OCC settles actions against 2 executives tied to 2016 scandal for $150K and won't say if it will defend court challenge of $10M fine in a 3rd case
by Matt Carter Apr 25
Trump's FHFA could rein in Fannie and Freddie's high-end lending
Cutting the mortgage giants' $806.5K conforming loan limit could relieve pressure on home prices, but leave more homebuyers seeking jumbo mortgages at higher rates from private lenders
by Matt Carter Mar 25
Wells Fargo closes 2 more consent orders in quest to shed asset cap
Getting out from under $1.95T cap would allow bank to grow its deposit base, providing more room on the balance sheet to originate jumbo mortgages too big for Fannie and Freddie
by Matt Carter Feb 4
Wells Fargo is about to emerge from the regulatory woods
Once the nation's largest home lender, Wells Fargo could be poised for a comeback in mortgage this year as it continues to make progress addressing regulators' concerns about past practices
by Matt Carter Jan 28
Homebuyers get a break as big lenders redefine 'jumbo mortgage'
CrossCountry Mortgage joins Rocket, Pennymac, UWM and Rate in raising conforming loan limit above current $766,550 cap for Fannie Mae and Freddie Mac ahead of an official announcement
by Matt Carter Sep 24
UWM and Rate join the $802K conforming loan limit party
With prices rising, it's becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA's official announcement
by Matt Carter Sep 18
Rocket is first mortgage lender to raise its conforming loan limits
Rocket will treat loans of up to $802,650 as conforming ahead of expected increase. Last year UWM and Rate also got a jump on the official announcement by Fannie and Freddie's regulator
by Matt Carter Sep 13
Mortgage rates continue descent as Fed hints at September rate cut
Fed policymakers are acknowledging that while they're determined not to cut rates until inflation is tamed, they're also worried about waiting too long and throwing the economy into a tailspin
by Matt Carter Jul 31
Big drop in mortgage rates fuels refis, but homebuyers unmoved
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven't come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie and Freddie
by Matt Carter Jul 17
Faith in NYCB restored, but worries about some regional banks remain
Wall Street investors believe promises made by new leadership of New York Community Bancorp, but concerns about the impact of interest rates and commercial lending on regional banks remain
by Matt Carter May 1
Would-be homebuyers balk as mortgage rates head back up
MBA surveys show purchase loan applications have been flat for 2 consecutive weeks, and now mortgage rates are popping again as more worrisome inflation data rolls in
by Matt Carter Apr 3
Rising mortgage rates threaten to curtail spring homebuying
After 2 consecutive weeks of rising demand, applications for purchase mortgages dropped last week by a seasonally adjusted 1% from the week before, and by 14% from a year ago: MBA survey
by Matt Carter Mar 20
Homebuyers sit up and take notice as mortgage rates fall
Purchase loan applications jump by a seasonally adjusted 11% after 5 consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs
by Matt Carter Mar 6
NYCB's surprise $2.7B Q4 loss rekindles regional bank fears
Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac
by Matt Carter Mar 1