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Consumer confidence has fallen as borrowing costs increase.

Alternative data verifications used in non-qualified mortgage underwriting have increasingly been used by government-sponsored enterprises in response to expansive Biden-era housing goals, volatile rates and evolving technology.

American Banker interviewed the Consumer Financial Protection Bureau chief about his views on Big Tech, the qualified mortgage rule, real-time payments apps and more.

In a wide-ranging interview with American Banker, Consumer Financial Protection Bureau Director Rohit Chopra talked about litigating against large firms, fighting overdraft fees and reining in Big Tech.

First introduced in 2020, the Fair Access to Financial Services Act would require banks to serve all customers in a manner similar to existing requirements for hotels and restaurants under the Civil Rights Act of 1964.

While housing costs were still up nationwide, Pacific states saw the most rapid pace of moderation on an annual basis, a Federal Housing Finance Agency study found.

The Seattle-based bank underestimated single-family loan declines in the larger market but was able to improve margins slightly with cost-cutting and by diversifying with a shift toward apartment lending.

The company formerly known as UniversalCIS Credit Plus, which offers credit report services and appraisal technology, adds a new vertical to offer its mortgage lender clients.

But knowledge of HELOCs and HECMs is higher among Gen Z and millennials than boomers.

The market has shown signs of cooling down as sellers slash prices and homes linger longer.