The Fed lifts asset cap imposed on Wells Fargo; bill to establish VA partial claims program introduced in Senate; mortgage applications slow.

Treasury Secretary Bessent’s cautious remarks about the prospect for GSE reform heighten industry skepticism about the release of Fannie Mae and Freddie Mac from conservatorship.

A potential slowdown of regulations and actions taken by the CFPB during the second Trump administration could alleviate regulatory pressure on financial service providers.

At its current pace, by the end of March Mr. Cooper Group will have overtaken Chase Home Finance as the largest GSE server. (Includes two data tables.)

JPMorgan Chase, Wells Fargo and Bank of America have been accused of failing to protect consumers from fraud on Zelle, a peer-to-peer payment network.

TD Bank plans to sell some of its jumbo mortgages and a correspondent business to free up asset space under a new cap set by the OCC. Wells Fargo, meanwhile, appears to be nearing a release from its cap.

There’s a large gap between damage from Hurricane Helene and what will be covered by the National Flood Insurance Program and the private property insurance market, according to CoreLogic.

The bank experienced an uptick in mortgage-related complaints following the scandal, even though mortgage products weren’t part of the issue, according to a new research paper.

Wells Fargo and Chase reported declines in mortgage originations during the first quarter of 2024.

Mortgage holdings at banks increased last year despite mixed results at the largest depositories, including a decline at Wells Fargo. The ARM share also increased somewhat. (Includes data table.)