The Latest

The filing is the first joint action by the Federal Trade Commission and California Department of Financial Protection and Innovation to rely, in part, on the enforcement of the state's 2020 consumer protection law.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year. 

The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.

While several single-family indicators rose compared with July, homebuilder authorizations for new construction continued to lag.

Because the co-buyers own 100% of the property jointly, Pairadime is different than equity sharing firms like EquiFi, Hometap and Unison, which take a stake in the property in exchange for funds.

Plaintiffs in two similar class action complaints accuse the companies of failing to protect their Social Security numbers and loan information.

Payment suspensions on loans securitized through the government-backed market stopped falling in May, plateaued over the summer, and reversed course last month, according to an industry trade association.

A new group called MoreThanFair aims to establish the lines between fair and unfair lending, to set best practices for the use of AI in lending and to lessen the stigma of fintech lenders.

SPS will have roughly 1.4 million mortgages in its portfolio after the transaction closes, something the two companies estimate will occur in the fourth quarter of this year.

August's 0.3% drop in prices from July was the largest in 11 years, according to the raw Zillow Home Value Index.