The surge in adjustable-rate mortgages this decade led their share of the market to more than triple over four years at the nation’s largest banks, according to a new Federal Reserve report. Conventional ARM originations at the financial institutions overseen by the Fed accounted for 25.1% of their mortgage originations in the first quarter this […]
ARMs tripled at banks over past decade Read More »
Black Americans have long faced an uphill struggle to homeownership, and new data suggests that those problems aren’t going away anytime soon. Black homebuyers are 1.7 times more likely to be denied a mortgage than other races, according to the latest report from Lendingtree. In 2024, 19% of Black applicants were denied mortgages, significantly higher
Black Americans still struggle to get mortgages, study finds Read More »
Adobe Stock WASHINGTON — New Jersey lawmakers have introduced a bill in the state that would create a state-level Community Reinvestment Act, one that would apply to more financial institutions than its federal counterpart. The bill would extend CRA review beyond banks to online institutions, credit unions and nonbank mortgage lenders. Other states, including Illinois,
NJ to consider CRA bill that would rope in nonbanks Read More »