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July 2025

Trump says Fannie Mae suspects Schiff of mortgage fraud

Trump says Fannie Mae suspects Schiff of mortgage fraud

Fraud, Law and legal issues, Politics and policy /

Sen. Adam Schiff, D-Calif., called the Trump administration’s accusations of mortgage fraud regarding his Maryland property political retaliation.Al Drago/Bloomberg Fannie Mae suspects Sen. Adam Schiff, D-Calif., of mortgage fraud.  President Trump announced the government-sponsored enterprise’s findings in a Truth Social post Tuesday. The scheme allegedly involves a Maryland property Schiff has owned since at least […]

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Delinquency risk leads to less credit for borrowers

Foreclosures, Housing markets, LOAN PRODUCTS, Originations /

Mortgage lenders tightened their offerings in June in what could be a sign of greater difficulty for borrowers looking to get into a new home.  New data from the Mortgage Bankers Association showed less credit on offer in June, the first decrease since late 2024. The trade group’s Mortgage Credit Availability Index, which tracks loan

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‘Predatory’ NTRAPs outlawed in another state

Industry News, Politics and policy, State regulators, Title insurance /

Officials in New England approved a new law that makes unenforceable a “predatory” practice often targeting older homeowners that binds them to a single real estate broker and limits future options to sell their homes.   Rhode Island recently became the latest state to pass legislation against NTRAPs, or non-title recorded agreements for personal services. Officials

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BNY beats estimates, stays mum on merger rumors

BNY, Cryptocurrency, Earnings, Stablecoin /

UPDATE: This article now includes details from BNY’s earnings call and comments from CEO Robin Vince. The Bank of New York Mellon had plenty of updates to provide about its estimate-beating second quarter, but there was one topic on which the bank’s executives kept quiet. In recent weeks, reports have circulated that BNY has held

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Republicans gear up for Dodd-Frank rollback

Republicans gear up for Dodd-Frank rollback

CFPB News & Analysis, Politics, Politics and policy /

Representative French Hill, a Republican from Arkansas and vice chair of the House Financial Services Committee, speaks during a hearing in Washington, D.C.Al Drago/Bloomberg WASHINGTON — House Republicans began their attempt to roll back significant parts of the Dodd-Frank Act, targeting not just the Consumer Financial Protection Bureau but a laundry list of bank regulation

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Chase’s lower 2Q margins a negative for IMB earnings

Earnings, LOAN PRODUCTS, Originations, Secondary markets, Servicing /

Lower gain on sale margins at JPMorgan Chase could be a negative sign for independent mortgage banker results in the second quarter, a Keefe, Bruyette & Woods report said. The drop in margins at both Chase and Wells Fargo came even as origination volume rebounded at both banks. It was up 44% from the first

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Mortgage strain pushes foreclosure inquiries up

Distressed, Law and legal issues, Servicing /

Fears of falling behind on mortgage payments are driving a growing number of homeowners to seek legal help, with foreclosure concerns fueling the spike. Foreclosure-related legal inquiries rose 13.3% from the first to the second quarter of 2025, according to data from legal services provider LegalShield. Year over year, those inquiries surged 28.9% compared to

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Fed chair contender is now in favor of rate cut, just as Trump wants

Federal Reserve, Mortgage Rates /

Kevin Warsh, a top contender to replace Jerome Powell as chair of the Federal Reserve, is finally ready to cut interest rates.  As a governor at the US central bank from 2006 to 2011, Warsh called for higher rates even in the depths of the financial crisis, warning often of impending inflation. That’s a concern

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Uptick in CPI inflation complicates case for rate cuts

Uptick in CPI inflation complicates case for rate cuts

Economy, Inflation, Monetary policy, Politics and policy /

Bloomberg News Inflation continued to rise in June, driven by rising costs of housing and suggesting the Trump administration’s emerging tariff policy is beginning to impact consumer prices.  The Bureau of Economic Analysis reported that the Consumer Price Index increased 0.3% in June for an annualized climb of 2.7%. Core CPI, which factors out food

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Wells Fargo’s asset cap is gone, but loan demand stays tepid

Earnings, Non-interest income, Wells Fargo /

`UPDATE: This story now includes commentary from Wells Fargo executives and analysts. The regulatory shackles are off at Wells Fargo, but that new reality doesn’t necessarily mean that rapid growth is in the offing. Though the bank’s assets climbed above their longtime $1.95 trillion limit during the second quarter, Wells continues to be constrained by

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