Banking

Higher utilization and aggregate excess payments point to pressure, according to TransUnion. Debt-to-income averages remain below traditional mortgage caps.

Rocket, United Wholesale Mortgage and Pennymac said they will use the new government-sponsored enterprise credit metric as large lenders get on board.

The Long Island-based regional bank, which has been in turnaround mode for two years, reduced its earnings per share guidance for 2026 and 2027. It cited an expected decrease in net interest income due to higher levels of payoffs and paydowns in commercial real estate.

The Mortgage Bankers Association is recommending the option for Fannie Mae and Freddie Mac borrowers with strong credit with a tri-merge for others. Here's why.

An uptick in problem loans within the heavily scrutinized office sector pushed down share prices at Rhode Island-based Washington Trust and Bank OZK in Little Rock, Arkansas, even though both banks reported solid profits.

The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.

CEO Tim Spence said folding in the acquired bank has gone to plan so far, but the biggest point of risk is still on the horizon.

Questions about the single-report option and whether VantageScore should be introduced before FICO 10T arose during a hearing on broader legislative proposals.

Bills in Congress, capital rules, GSE reform and credit modernization hold a mix of benefits and risks for Independent Community Banker of America members, Senior Vice President Ron Haynie says.

Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.

Adam Boyd, a veteran financial services executive with more than 25 years of experience, will head the growth of Rate's consumer lending platform.

Which parties are responsible for the surge persisted as a source of debate as community lenders released updated survey data reflecting their average expense.

The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.

Republican Sen. Josh Hawley repeated his long-standing criticism of Fair Isaac Corp. in a letter noting the detrimental impact of its prices on home buyers.

TransUnion cuts VantageScore 4.0 to $0.99, aiming to boost lender choice and affordability as FHFA pushes mortgage score modernization and competition.

The House Financial Services Committee passed a legislative package heavily favored by banks in a 26-16 vote

Banks like Grasshopper are already starting to use AI agents where in the past they would have bought software as a service.

Chicago-based mortgage lender Rate is partnering with Westlake Financial to offer in-app auto loans, advancing its push into product diversification and broader household financial services.

Willamette Valley Bank cited consumer shifts to nonbanks and stubborn interest rates behind the decision, joining a line of institutions to exit since 2025.

Total consumer debt in the United States hit $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax.