Penny Crosman is Executive Editor, Technology at American Banker and its publisher, Arizent. Prior to taking on this role, she was Editor in Chief of Bank Technology News. She has held senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise, Network Magazine and Imaging Magazine.
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A security breach that left 24 million mortgage documents unprotected on a server is rekindling concerns about the risks posed by fourth parties.
February 13 -
The merged bank would set up an innovation and technology center in Charlotte as part of its bid to compete better against the largest institutions and fintech startups.
February 7 -
Minorities are still charged more for mortgages when all other applicable credit factors are equal — both in person and online, according to a new study by the University of California, Berkeley.
November 26 -
Online personal lending pioneer Prosper is developing a home equity line of credit product that it will offer in partnership with banks. The embrace of traditional depositories marks a departure from fintech lenders that typically seek to disrupt and displace legacy institutions.
November 14 -
A new credit score that includes consumers' cash flow alongside their credit score is winning praise for its potential to help expand access to credit, but some worry it gives the credit bureaus even more data that could be compromised.
October 23 -
An AI-powered virtual assistant could be used in a variety of ways, including helping customers to prequalify for mortgages, easing compliance and detecting problems.
September 18 -
LoanDepot's CEO Anthony Hsieh delivered a bracing message to mortgage lenders on Monday — strong new competitors are coming into this market, so they need to expand their offerings.
September 17 -
Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.
April 11 -
Some speculate that the banks who do business with credit reporting agencies may be looking for alternatives after mounting concerns about their ability to keep information private. But breaking up is hard to do.
April 4 -
Some fear that the removal of such data from individual credit reports could lead lenders to believe a consumer is a better bet than they really are.
April 2
