Castlelake, Redwood form $8B jumbo mortgage venture
The partnership was designed to support the growth of Redwood’s Sequoia platform and give Castlelake purchasing power for fully documented loans.
PayPal’s new CEO shakes up the company amid an earnings slump
President and CEO Enrique Lores, who took the payment company’s top job in March, is looking to turn the company around with fresh talent and a renewed focus on what he says are the company’s fundamentals.
Freddie Mac earnings surge on net interest income, credit release
Growth in retained and investment portfolios drove gains as the government-sponsored enterprise reported the highest refinancing share seen in four years.
K-shaped economy amplifies rise in nonprime DTI ratios
Higher utilization and aggregate excess payments point to pressure, according to TransUnion. Debt-to-income averages remain below traditional mortgage caps.
How Mastercard is responding to the Iran war
The card network, which reported earnings on Thursday, reports some early impacts on travel payments, and has set up a site to help customers with questions about changes in consumer and business spending habits.
‘Knock on wood’: Are banks doing enough to cope with Mythos?
Banks have publicly said they’re on top of the risk presented by Anthropic’s Claude Mythos, which can find and exploit software vulnerabilities at unprecedented speed. Experts aren’t as sure.
A volatile Japanese yen poses real risks for US banks’ funding
The Japan-linked risk for banks is not the exchange rate itself but the funding, collateral and rollover pressure behind it. Sudden volatility in the foreign exchange market will rapidly cascade into U.S. Treasury markets.
Fed meetings are about to get really awkward
Jerome Powell isn’t Fed chair anymore, but he’s staying on the board, which might be uncomfortable for his successor.
Powell plays his last card as Fed chair
Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh’s leadership at the central bank.
Oregon enacts law granting 3-year tax break to new banks
The Beaver State measure gives de novo banks up to $1 million per year in tax credits. Oregon lawmakers modeled their legislation on a five-year-old Ohio law.