LoanDepot’s earnings showed growth in loan originations as interest rates fell, homebuyers looked to refinance, and the housing market has entered what management termed a more normalized environment. The company returned to profitability for the first time since the fourth quarter of 2022 and introduced...
Artificial intelligence (AI) is set to revolutionize finance and housing, bringing both game-changing benefits and thorny new risks that demand vigilant oversight, a bipartisan House panel has concluded. The House Financial Services Committee’s AI Working Group, established in January by Chairman Patrick McHenry, R-N.C., and...
Two months after laying off 3% of its workforce, the Birmingham, Alabama-based Regions Bank posted disappointing Q1 earnings Friday (April 19). The southeastern regional’s results were driven by higher expenses despite the headcount reduction, FDIC assessments and an adjustment to its securities accounting. By the...
An increasing number of Americans have realized the dream of owning a home without the burden of a mortgage. Nearly 40% of homeowners in the country now own their homes outright, marking a record high in mortgage-free ownership as of 2022, Bloomberg reported Friday (Nov. 18). This...
August 25, 2023
In today’s U.S. financial landscape, having a good three-digit credit score can be a critical factor in determining not only whether you are approved or denied for a mortgage, auto loan or student loan, but whether you get access to lower interest rates and better borrowing terms. A positive credit standing can also influence insurance […]
February 03, 2023
For many Americans, owning a home or renting an apartment signifies financial stability and maturity, with Americans traditionally leaving home early and never looking back. But home ownership — the...
March 11, 2022
Most consumers have loan accounts with outstanding balances, and most of them manage those accounts online. According to “Account Opening And Loan Servicing In The Digital Environment,” a PYMNTS collaboration...
June 25, 2020
When it comes to purchasing a home or attempting to take equity out of a home in cash form — there aren’t an awful lot of options. Debt, by and...
November 07, 2024
Double commercial property loan defaults are at their highest point in 10 years. And as the Financial Times (FT) reported Thursday (Nov. 7), this situation has raised worries that a lending practice known as “extend and pretending” is masking an increasing system risk. “They are kicking the can down the road,” Ivan Cilik, a principal […]
November 17, 2023
An increasing number of Americans have realized the dream of owning a home without the burden of a mortgage. Nearly 40% of homeowners in the country now own their homes...
September 27, 2022
PNC Bank will partner with cloud banking software company Blend, in order to digitize the mortgage application process, a press release said. Customers will now be able to apply digitally...
August 03, 2022
In the first two days of Poland’s national “mortgage holiday” more than 500,000 Polish mortgage holders took advantage of the new law allowing them to temporarily suspend mortgage repayments, reported...
