Forward look: The combined company will start with more than $28 billion of deposits, including $1.8 billion in Northern New Jersey. Supporting data: Blue Foundry Bancorp has reported more than $20 million of losses since its conversion to a stock-traded company in 2021. Expert quote: “Blue Foundry was horrible. They couldn’t make any money,” said […]
Fulton to acquire money-losing New Jersey bank for $243M Read More »
A federal judge threw out the criminal charges against former FBI Director James Comey and New York Attorney General Letitia James, ruling that the prosecutor who brought the cases had been illegally appointed. The appointment of Lindsey Halligan as interim US attorney for the Eastern District of Virginia was unlawful, US District Judge Cameron McGowan
James Comey, Letitia James charges dismissed by judge Read More »
Fannie Mae’s economic division has released its first origination forecast for two years from now and it projects a rebound to levels that haven’t been seen since the 2021 by then, but at a gradual pace. Following projected increases of almost 11% this year and nearly 25% next year, originations could rise another 6.5% by
Fannie Mae sees volume near $2.5T by 2027 Read More »
The mortgage industry is up in arms about price increases for credit score pulls. “By now, half the mortgage industry has seen the proposed increases for accessing consumer credit,” a LinkedIn post from NFM Lending Managing Director Greg Sher said. “It’s anywhere from 40-100% – this is on the heels of 700% increases over the
MBA objects to credit report price hike, wants single pull Read More »
Bloomberg News What’s at Stake: The court filing comes after Vought said last week that he will not request funding for the CFPB and that the agency will run out of the money in early 2026. Key Insight: The district court issued a broad preliminary injunction in March that prohibited the Trump administration from mass
CFPB’s union asks for clarification on Vought injunction Read More »
The rally that powered the US bond market toward its best year since 2020 has now left investors in suspense to see whether Treasuries can hold their impressive gains. US 10-year yields declined last week, sending the benchmark back toward 4% as spasms in stocks and crypto sparked demand for bonds. Fresh commentary from John Williams, the president of the Federal
Bond rally of 2025 faces new data vacuum as waiting game begins Read More »
Whether they take photos, change locks or serve legal documents, mortgage inspectors and other field personnel need to plan for unexpected and dangerous situations on the job. The nature of the work means personal security can’t be compromised. “I’ve been in this game for a while now, and I totally agree that safety is No.
Mortgage field safety spotlighted after October murder Read More »
The housing market experienced a slightly positive shift mid-June and is ending 2025 on even more positive news. Existing home sales have shown four consecutive months of year-over-year growth and our total pending home sales data has just reached a multiyear high for this calendar week. By tracking weekly housing demand we can see that
Total pending home sales reach multiyear high with mortgage rates near 6% Read More »
Al Drago/Bloomberg Key Insight: The Consumer Financial Protection Bureau’s new “Humility Pledge” is mandated for all supervisory examiners, with a focus on pressing threats to consumers, particularly service members and veterans. What’s at Stake: The CFPB said it wants to avoid duplication of supervision with state regulators and reduce the 8-week exam cycle. Expert
CFPB says bank supervisors must take ‘humility oath’ Read More »
The hack of a technology vendor for real estate financiers left major American banks and mortgage lenders working Sunday to assess whether they were affected by the data breach. The vendor, SitusAMC Group Holdings, LP, said in a statement Saturday that someone compromised its systems and took client data including “accounting records and legal agreements.” The company
Banks, FBI assessing hack of SitusAMC Read More »