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The venture-backed fintech also rolled out an option that allows the borrower to "undercollateralize" a property using the USDC stablecoin, pledged at 40% of the value.

Home values dropped for the first time in 31 months between June and July but this is obscured by 14.5% year-over-year appreciation.

Kristen Warfield is an editor at Employee Benefit News. Her coverage interests include mental health, modern parental benefits and empowering women in the ever-evolving workplace. Most recently, Kristen was an editor at Eat This, Not That!, where she focused on health, wellness and trending food content. Before joining EBN, Kristen also wrote for national media outlets such as Reader's Digest, The Dodo and iHeartDogs.com. She earned a bachelor's degree in digital media and journalism from SUNY New Paltz, and as a native of the Hudson Valley region of New York, Kristen spends a lot of her time outside gardening and hiking.

Manhattan home sales under $1 million sagged well below their pre-pandemic levels this summer, as rising interest rates cut into buyers' purchasing power and sidelined some potential consumers. 

The operational melding of highly regulated banks and less-regulated fintechs led acting Comptroller of the Currency Michael Hsu to warn of the potential for another financial crisis.

Declines in both purchases and refinances contributed to fractionally lower activity, as rising interest rates provided no relief.

Lisa Rosenblate is Insurance Industry Practice Leader at 2nd Watch. Her expertise spans the business lifecycle from revenue development strategies, operational efficiencies, administration and portfolio run-off management. Lisa can be found online at LinkedIn.

John Vishneski is a partner at Reed Smith.

Lauren Gubricky ia an associate at Reed Smith.

Lilith Fellowes-Granda is senior policy analyst for financial regulation and corporate governance at the Center for American Progress.