Banking & Lending
Fed’s Unwanted Ally in Bid to Tame Inflation: Credit Crunch
The Federal Reserve is getting some unwanted help in its drive to slow the U.S. economy and defeat the worst bout of inflation in four decades: a cutback in bank lending.
FedNow to Launch in July
The Federal Reserve said in a statement that the certification process for institutions will begin in the first week of April.
Banks, Cores Increasingly at Odds Over Service
Banks are becoming less and less satisfied with the vendors providing their core banking technology even after four years of work by industry leaders to bridge gaps in how each side sees the other.
Bond Portfolios Could Complicate Local Banks’ Finances
Amid rapid deposit growth, particularly during the first two years of the pandemic, banks of a variety of sizes chose to invest some of that cash in bonds, a move that would end up leading to Silicon Valley Bank’s decline.
CFPB Touts NSF Fee Wins vs. Banks
Some banks that charged multiple nonsufficient funds fees on a single item plan to refund the fees to consumers, and most of these institutions supervised by the Consumer Financial Protection Bureau have decided to eliminate nonsufficient funds fees altogether, the...
Farewell Refis, Hello HELOCs
Rising interest rates are changing the residential lending landscape for banks and credit unions across New Hampshire, tanking the number of mortgage refinancings – and causing a spike in home-equity lending and lines of credit.
Fannie Mae ‘Moving Away’ from Appraisal Requirements
Saying it needs to modernize the way it values properties, Fannie Mae announced significant changes Wednesday to the appraisal process for single-family mortgages it buys on the secondary market.
Loan Demand Slumps as Mortgage Rates Hit Three-Month High
The average long-term U.S. mortgage rate hit a three-month high this week, reflecting higher Treasury yields and expectations that the Federal Reserve will continue to raise its benchmark rate and keep it there until inflation recedes.
FHA Reduces Mortgage Insurance Premiums
The Federal Housing Administration has reduced the annual mortgage insurance premiums charged to homebuyers who obtain an FHA-insured mortgage.
Banks Face Talent Development Struggles
Staffing remains a key priority for community banks and credit unions heading into 2023, and the industry’s ongoing digital transformation and economic uncertainties have started to change how financial institutions look at staffing needs, according to industry experts.