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The Federal Reserve Inspector General's report on the failure of Silicon Valley Bank found that officials at the Federal Reserve Bank of San Francisco wanted to remove the CEO from its board before examiners downgraded SVB's supervisory ratings.

These business purpose loans are vehicles for a specific type of potential fraud, the reverse occupancy scheme, where someone applying for a non-owner-occupant mortgage actually intends to live in the property.

CrossCountry Mortgage, American Pacific Mortgage and Fairway Independent Mortgage run their shops this way.

Georgia United Credit Union is collaborating with the income-verification fintech Argyle to combat submissions of false documents and other crimes.

Banks need to — and can — take steps to manage the phenomenon, first defined by a Japanese academic in the 1970s, where artificial intelligence looks, feels or sounds human and gives customers a creepy feeling, experts say.

The report comes from Federal Housing Finance Agency Inspector General Brian Tomney's office, which also is keeping an eye on turnover risks at the government-sponsored enterprises.

The nation's largest bank, which acquired the remains of San Francisco-based First Republic following its failure this spring, has completed its plans to close 21 offices this year. But the consolidation effort is likely to continue.

Thomas Nides, a former U.S. ambassador to Israel and longtime Morgan Stanley executive, will take over the megabank's public affairs division as its work to fix regulatory concerns continues. He succeeds Bill Daley, the former chief of staff to President Barack Obama, who recently announced his retirement from Wells.

Kareem Saleh, CEO of "fairness-as-a-service" company FairPlay AI, walks us through key steps that must be taken to ensure automated decisioning models stay on track.

The Digital Mortgage Conference - taking place September 26 to 28 at the Wynn Las Vegas - is the can't-miss-it mortgage tech event of the year. It's not too late to register.

The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample forms when they should provide specificity to explain why a consumer is denied credit.

Commercial real estate loans are a growing area of concern for banks. But OceanFirst says its exposure to a troubled shared credit tied to a Manhattan office building isn't a sign of broader problems in its portfolio.

Production costs, which typically run higher for such loans, can actually fall during a purchase market, a white paper published by the MBA found.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

High mortgage rates and little inventory explain why over 60% of homeowners did or will perform a repair project in the next year, a LendingTree survey found.

Following New York Community Bancorp's acquisition of Flagstar, the company is ditching the regional bank brands that it long used. CEO Thomas Cangemi calls Flagstar a "neutral" but "patriotic" name that underscores the firm's nationwide expansion strategy.

A joint letter from the banking and financial trade groups is the latest effort by the industry and its representatives in Washington to push back against the Basel III capital proposals, which would raise capital significantly for the largest banks.

The securities have been hard to sell in part because the bonds will probably pay below-market coupons for years.

Panelists from the Secret Service at a Mortgage Bankers Association conference Monday urged mortgage lenders to tweak their approach to reporting of wire fraud, home equity theft, investment scams and elderly-related financial crimes, which are on the rise.

The power to quickly ingest and analyze large loads of data has become more critical to many businesses that require quick turnarounds in their decision making, technology leaders said.