Pennymac asked the Financial Accounting Standards Board to clarify accounting practices involving mortgage servicing rights and recapture assumptions. The effort has support from some major MSR buyers who are looking for a level playing field.
Blend paid down a portion of a term loan and extended the loan; Capital City Bank faces material weakness in internal controls; Associated Bank adjusts portfolio lending strategy; First American fined for cybersecurity breach; MISMO launches eVault standards; new tech platform for brokers.
Proposal for higher capital requirements on mortgages at larger banks expected next week; House passes defense spending bill without RON provision; Umpqua Bank selling one-third of its MSRs; MISMO publishes fee- naming guide; PrimeLending offering fast loan approvals; lender offers AI chatbot to potential borrowers.
Home prices expected to decline; FTC hearing on ICE/Black Knight delayed; legal services for AI usage; MISMO updates; accounting proposal on acquired assets.
The Federal Reserve is working to understand why it was unable to prevent the failure of Silicon Valley Bank and some Democrats in Congress are pushing for increased regulation of community banks.
Revised accounting standards for credit losses; troubles mount at Blend; MISMO updates iLAD, considers eNote standards for commercial market; MBA redesigns website, highlighting reduced content.
Finance of America had more than $1 billion of goodwill at the end of September. In the fourth quarter, the company determined its stock price was too low to recognize the benefit, prompting a massive loss.
Credit-risk transfer transactions offer capital relief for banks and strong yields for investors. A CRT from Texas Capital Bank could only be scratching the surface of the potential of such deals.
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