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Average incomes for this age group increased by 24% since 2012, but housing prices jumped 86%.

The enormous issuance is backed by a single loan secured by first-priority mortgages on a pool of about 6,148 single-family rental homes, and 299 townhouses.

No city exemplifies the mania of the COVID-era U.S. housing market better than Boise, Idaho, where prices have surged by more than 30% in the past year. But in a sudden reversal, buyers are now the ones with power.

The Series B investment round for the power buyer comes at a time when all-cash purchases account for almost a quarter of the market.

The Alabama company agreed to buy two nonbank lenders earlier this year. It’s still on the lookout for possible deals, potentially in corporate finance or wealth management, its chief financial officer told American Banker.

Around 432,000 homeowners exited their pandemic-related payment suspensions in the first 19 days of October and more than 280,000 plans have month-end review dates, but the number of private-loan plans increased.

Trustmark Bank agreed to pay $9 million to resolve allegations that it discriminated against Black and Hispanic residents in Memphis, Tennessee. Attorney General Merrick Garland said the Department of Justice and other agencies will continue their crackdown.

Seasonal patterns are also playing a part in the slowdown in buyer demand, the company said.

Eric Halperin, a longtime consumer advocate, is the first big hire by the new director of the Consumer Financial Protection Bureau.

The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.