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In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

In the first quarter of the fiscal year, many mortgage-related companies posted profits after a year-end that didn't exceed expectations. Here's how major publicly traded players in the industry performed in the first quarter.

Acting Comptroller of the Currency Michael Hsu Thursday said AI providers and end-users — including banks — should share responsibility for errors that derive from artificial intelligence models.

Still, the expected year-over-year pace of home price increases in 2024 is faster than what the first quarter Fannie Mae Home Price Expectations survey has predicted.

The lender and servicer, coming off multiple consecutive quarters of net losses, has to pay significantly higher interest rates for an additional two year term for this debt.

The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.

Ginnie Mae just approved some flexibilities for extended term MBS. Here's what else is on its roadmap, according to Sam Valverde, the agency's acting president.

The deal is expected to open up "substantial funding capacity" for Los Angeles-based BARH Dunmore, which launched in 2021.

The company foresees a dampened mortgage originations market through 2026, as last year's trends continue to have an impact on housing.

The Consumer Financial Protection Bureau issued a final rule pursuant to its broader open banking proposal Wednesday that would require standard-setting bodies to include public interest consumer groups and others to receive bureau recognition.

Staffing cuts affected employees in the reverse-mortgage lender's retail and corporate units, the company confirmed.

Besides allegations of trade secret theft, HMAC is accusing rival OCMBC and Michael Turturro of stealing the branding around its Jet Mortgage division.

St. John's Lutheran Church in Madison is redeveloping its property to build affordable housing blocks from the Capitol in the booming East Washington corridor.

Both purchases and refinances dipped as rates failed to help borrowers, but government lending picked up a rising share of loan volume, the Mortgage Bankers Association said.

Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.

The long-troubled lender owes at least $40 million to mortgage industry counterparties and tax collectors, it said.

On top of cratering origination figures, the company faces lawsuits from counterparties over nonpayment.

The Consumer Financial Protection Bureau said in a new circular that it's still watching for attempts to get borrowers to sign away rights that can't be waived.

A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry's growth, experts say.

Brokers say the credit giant, which charges $66.45 per individual check, hasn't made its product better through its acquisitions.