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The tools are there to create a faster loan process, but fear of noncompliance and reliance on old habits still prevail, industry technology leaders said at the Fintech Nexus USA conference this week.

The Consumer Financial Protection Bureau alerted staff this week that text messages had been sent to employee personal phone numbers claiming to be from Director Rohit Chopra.

Only one company, Doma, reported improved results from the year before, but it still took a large loss for the period.

The Federal Reserve Board governor also called for the Fed to commission an independent investigation into the failure of Silicon Valley Bank.

New products that have come to market since the start of 2023 include one that aims to ensure TRID compliance and another that handles image processing for appraisals.

Rents for primary residences in the New York, Jersey City and Newark, New Jersey, region rose 6.1% in the 12 months through April, the biggest increase since 2005, according to a Bureau of Labor Statistics report Wednesday.

The seasonally adjusted decline was in line with a low unemployment rate, but that could change later this year, according to the Mortgage Bankers Association.

Speaking before the International Swaps and Derivatives Association's annual meeting, Treasury Undersecretary for Domestic Finance Nellie Liang said liquidity and interest rate risk in the banking sector is being managed, but said fears of risk mounting in the nonbank sector are a source of concern.

The latest change continues the sideways pattern of recent weeks, a much better situation than last year's rapid increases, Freddie Mac said.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.