Jumbo loans are creeping into non-QM, HELOC securities
Large loan balances are increasingly common in non-QM and HELOC securitizations, bringing faster prepayments and higher delinquency risks, Bank of America Securities research shows.
Kraken faces extortion threat over rogue employee breach
The crypto exchange is refusing to pay criminals who accessed internal systems through rogue employees, sparking concerns over its new Fed master account.
Judge rejects DOJ-Colony Ridge settlement
A federal judge refused to sign a settlement agreement between the Department of Justice and Houston developer Colony Ridge because it failed to provide any consumer relief. DOJ agreed to an out-of-court settlement instead.
Fed’s Barr says tariffs, geopolitics weigh on rural areas
Federal Reserve Gov. Michael Barr said in a speech Tuesday that rapidly changing trade policies and conflict in the Middle East are straining rural communities by raising business operating costs.
How Ally hit its target for sponsoring women’s sports
Four years ago, the Detroit-based auto lender made a pledge to support men’s and women’s sports with equal advertising dollars. It’s reached that goal a year ahead of schedule — and it’s not stopping there.
Chase, Wells mortgage slump: what it means for non-banks
Both Chase and Wells Fargo had a 15% reduction quarter-to-quarter in mortgage originations, more than the industry forecast for a 6% drop-off, Keefe, Bruyette & Woods noted.
Cornerstone Capital Bank adds employee stock ownership plan
Company team members, including those in affiliated business arrangements, will be eligible; real estate and joint venture agent partners will not be.
Experts throw cold water on Anthropic’s new AI model
Bank executives are taking Anthropic’s new AI seriously, but cybersecurity experts are dismissing the doomsday framing as a clever marketing schtick.
Warsh nomination inches forward with financial disclosures
Kevin Warsh’s financial disclosures show significant wealth, likely well-over $100 million, beyond that of even Federal Reserve Chairman Jerome Powell, who came from the private equity world.
Banks are upping hiring efforts in the age of AI
American Banker data finds that hiring could outpace layoffs in the months to come, and artificial intelligence is not as big a driver as many believe.