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Voters in one of the U.S. most expensive markets are poised to approve a ballot measure tripling the supplemental property tax that funds programs to support affordable housing.

Heads of the three major bank regulatory agencies made their case for why the recently finalized framework implementing the Community Reinvestment Act is not all bad for the banks subjected to it.

The top five cities have an average median residential price per square foot of $148.

Banks have been working to sell portfolios of commercial-property debt as they seek to manage their exposure to the sector. Soaring borrowing costs have weighed on valuations, with commercial real estate prices slumping 16% in September from a peak in March 2022, according to real estate analytics firm Green Street. 

Rather than adding the option of using two rather than three prior to score updates, the company suggested the former functionality be added after or scrapped.

Direct-to-consumer lenders and iBuyers could be beneficiaries of any rule changes, analysts say.

The Financial Stability Oversight Council enhanced its powers to designate nonbank financial institutions as systemically important Friday, emphasizing transparency and the need to protect financial stability.

The fintech rolled out a Lending-as-a-Service (LaaS) platform, which gives lenders access to its system. The first mortgage shop to sign up is Guaranteed Rate.

As insurers automate more aspects of the insurance experience, it expands how services are provided and priced for policyholders.

But the company was profitable for the second consecutive period under standard accounting principles in the third quarter.

The broader economy added 150,000 positions, a number the bond market initially read as likely to soften rates, but some economists interpreted differently.

Federal Reserve Vice Chair for Supervision Michael Barr says that while there has been some opposition to the recent overhaul of Community Reinvestment Act regulations, he expects that banks, supervisors and communities will adapt and thrive once it's fully implemented.

The newly merged ICE Mortgage Technology entered into agreements with two companies this week to facilitate closings and income verification.

Homebuilders and real estate investment trusts outperformed the broader market as investor appetite shifts toward more defensive, cash-producing sectors.

The seizure of servicing from Reverse Mortgage Funding's bankruptcy has had ripple effects ranging from a private legal challenge to broader policy changes.

Trade groups, analysts and some regulators want more data on how various regulatory changes and proposals would impact the banking sector in totality. But regulatory agencies have yet to take on such a project and private sector groups say the task is beyond their capabilities.

Consumer appetites for new loans have slowed in the face of record interest rates, but Sunlight Federal Credit Union's partnership with Avana CUSO helps identify commercial real estate opportunities in markets both local and national.