FHA Reduces Mortgage Insurance Premium
The Federal Housing Administration has reduced the annual mortgage insurance premiums charged to homebuyers who obtain an FHA-insured mortgage.
MBA: Mortgage Forbearances Start to Decline Again
As the mortgage industry moves closer to the end of new COVID-related forbearances, the number of homeowners in forbearance decreased last month, according to the Mortgage Bankers Association.
How Credit Scores Are Evolving to Improve Access to Credit
A lowcredit score can hurt your ability to take out a loan, secure a good interest rate, or increase the spending limit on your credit card.
Research: Mortgage App Rejection More Likely for Older Adults
Older adults are more likely to see their mortgage applications rejected compared to applicants in other age groups, according to recent research, but the rejections might not point to lender discrimination.
Survey: Banks, Technology Vendors Disagree on Effectiveness
While less than half of U.S. banks said they were very or extremely satisfied with their core technology provider, these vendors overestimated their effectiveness in helping banks, according to a survey from the American Bankers Association.
Man Sentenced for Three CT Bank Robberies
A man awaiting sentencing for his role in a murder-for-hire plot was sentenced separately yesterday to 10 years in prison for committing three bank robberies in Connecticut.
MBA: Commercial, Multifamily Lending to Fall in 2023
Nationwide commercial and multifamily mortgage lending is expected to fall this year by 15 percent, according to an updated forecast from the Mortgage Bankers Association.
Banks Face Talent Development Struggles
Changing strategies have started to put pressure on staffing needs as financial institutions face down a possible recession and make pushes for new revenue sources.
Salisbury Driven to Merger by Succession, Recruitment Difficulties
Concerns about upcoming executive retirements and the need to recruit commercial lenders helped drive Salisbury Bank and Trust’s parent company to seek a merger.
EPA Launches ‘Green Bank’ Modeled on CT’s Own
The Biden administration on Tuesday outlined how states and nonprofit groups can apply for $27 billion in funding from a “green bank” that will provide low-cost financing for projects intended to cut planet-warming greenhouse gas emissions.
Black Knight: Monthly Mortgage Rate-Lock Volumes Rose in January
While mortgage rate-lock volumes increased nationwide for the first time in nine months, volumes remained down compared to 2022.
Webster Bank to Launch Finance Lab in Bridgeport
Stamford-based Webster Bank has provided a $100,000 grant to fund a finance lab at the Wakeman Boys & Girls Club’s new Bridgeport location.
More Homeowners Tap Equity Juiced by Soaring Prices
Homeowners are increasingly tapping their equity, taking advantage of big gains following years of soaring housing prices.
Brett Lovett Joins Jewett City Savings Bank
Jewett City Savings Bank has hired Brett Lovett as branch manager for the bank’s Putnam branch.
Bank of America Adds EV Charging Units to Auto Loans
Bank of America has expanded its auto loan product to include financing for the units that consumers use to charge electric vehicles at home.
CT Wind Farm Gets Boost from Washington Trust Loan
An offshore wind farm planned to send renewable energy into Connecticut’s power grid got a boost from Westerly, Rhode Island-based Washington Trust Co. earlier this week when the bank finalized a loan to fund three vessels needed to build and maintain the development.
Banking Groups Respond to Biden ‘Junk Fees’ Jab
Following President Joe Biden’s reference in the State of the Union address to reducing bank overdraft and credit card late fees, industry trade groups said the president had provided “misleading” information about the fees. During Tuesday’s speech to Congress, Biden...
New Haven Bank Had Record Charitable Giving
New Haven Bank made charitable donations in 2022 of more than $50,000, its largest annual donation amount since the bank’s founding in 2010.
Powell: Strong Hiring Could Force Further Rate Hikes
Federal Reserve Chair Jerome Powell said Tuesday that if the U.S. job market further strengthens in the coming months or inflation readings accelerate, the Fed might have to raise its benchmark interest rate higher than it now projects.
Green Check Verified Launches Cannabis Marketplace
Financial technology company Green Check Verified, which has an office in North Haven, has launched a marketplace to help cannabis-related businesses identify service providers to meet their financial and business needs, including banking, lending, insurance, human resources, payroll and cash logistics.
