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Bank of America Profit Falls 17% on $1.2 Billion Compliance Charge as Loans Grow

Bank of America Profit Falls 17% on $1.2 Billion Compliance Charge as Loans Grow

by John G. Stevens | Oct 14, 2026 | Current News & Events, Mortgage Information

Bank of America reported a sharp decline in third-quarter profit Wednesday after recording a $1.2 billion charge tied to U.S. anti-money-laundering enforcement, even as its loan balances and net interest income increased. The Charlotte-based bank earned $6.93 billion...
Inflation Jumps to 3.7% as Gasoline Surges, Adding Pressure to Mortgage Rates

Inflation Jumps to 3.7% as Gasoline Surges, Adding Pressure to Mortgage Rates

by John G. Stevens | Oct 14, 2026 | Current News & Events, Mortgage Information, U.S. Housing Market

U.S. inflation accelerated in September, delivering another blow to prospective homebuyers already facing mortgage rates above 7% and raising the stakes for lenders, builders and the Federal Reserve. The consumer price index rose 0.6% from August and 3.7% from a year...
475-Plus Organizations Warn CRA Proposal Could Weaken Affordable-Housing Investment

475-Plus Organizations Warn CRA Proposal Could Weaken Affordable-Housing Investment

by John G. Stevens | Oct 13, 2026 | U.S. Housing Market

More than 475 housing, lending and community-development organizations are urging federal banking regulators to preserve incentives for affordable-housing investment as the comment period closes on proposed changes to the Community Reinvestment Act. The National...
Boston Fed’s Collins Backs Another 2026 Rate Hike, Warns of Mortgage Bank Risks

Boston Fed’s Collins Backs Another 2026 Rate Hike, Warns of Mortgage Bank Risks

by John G. Stevens | Oct 13, 2026 | Current News & Events, Mortgage Information, U.S. Housing Market

Boston Federal Reserve President Susan Collins said Tuesday she expects another interest-rate increase before the end of 2026, citing inflation risks that she believes outweigh the danger of a weakening economy. Her remarks put a fresh public endorsement behind...
ALTA Updates Title Industry Best Practices With Tougher Focus on Vendor Oversight

ALTA Updates Title Industry Best Practices With Tougher Focus on Vendor Oversight

by John G. Stevens | Oct 13, 2026 | Industry Updates, Real Estate News

The American Land Title Association has released Version 5.0 of its Best Practices Framework, strengthening its guidance on vendor oversight, cybersecurity, information security and regulatory compliance for title and settlement businesses. The association published...
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