Banking

What developments around rent reporting and new credit standards portend for mortgage companies. Part 2 of a series on government-sponsored enterprise changes.

Federal Reserve bank supervisors are monitoring community and regional banks' commercial real estate portfolios amid concerns over "lower commercial property values," the agency said. 

Lancaster, Pennsylvania-based Fulton Financial said Monday it will pay $243 million in stock for Blue Foundry Bancorp, which has lost more than $20 million since converting to a public company in 2021.

Social media posts point to a 40% to 100% price hike this year, the latest in a series of hikes started in 2023, when for some lenders prices rose 400%.

Renters can now enroll in CreditClimb through Zillow to have their on-time rent payments reported to the three major credit bureaus.

While some international purchasers are reluctant to buy in the U.S. right now, interest in investment properties still abounds, the CEO of Waltz said.

The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.

President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.

A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.

The multi-year, $100 million agreement will allow users to take financial actions without leaving the ChatGPT app.

Mortgage credit availability increased 2.3% to 106.8 last month, marking the fourth consecutive month of growth.

The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.

The Consumer Financial Protection Bureau is considering a proposal to reduce its oversight of auto finance lenders, saying the benefits of supervision may not justify the "increased compliance burdens."

At its first investor day in a decade and a half, the nation's second-largest bank pegged its guidance for return on tangible common equity at a slightly higher level than what it reported last quarter. Not all investors were impressed.

The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.

Late-stage mortgage delinquencies hit the highest level since January 2020 in September, a new report from VantageScore found.

Several claims in a recent Loan Think column misrepresented how credit scores and resellers work in mortgage lending, according to the president of the National Consumer Reporting Association.

The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

Regulators are nearing a key step in overhauling credit scoring as the MBA touts its influence on GSE policy and close alignment with Washington leaders.