Fund-industry observers are lobbing new criticism at regulators’ recent moves to limit mutual-fund sales fees, efforts that already were under fire for being too weak. The Securities and Exchange Commission on July 21 unveiled proposals to change fund-fee structures, in particular capping how much mutual funds can charge clients for the costs associated with selling the products. But the plans don’t address revenue sharing between funds and brokerages, an area of the industry with very little disclosure.
Most Popular Articles
Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
U.S. home prices increased 5.1% in the fourth quarter from a year ago, matching the pace of the prior quarter, according to the Federal Housing Finance Agency.