Banking

The percentage of refinance loans rose in September as interest rates dipped to a 2017 low, according to Ellie Mae.

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.

Mortgage defaults keep rising and are getting much nearer to where they were in 2016 as damage from natural disasters continues to add to slight upward pressure on credit.

Competition between fintech, marketplace and traditional mortgage lenders often focuses on borrower-facing automation and other technology. What gets overlooked is how differences in their funding sources create another area of competition.

Fintech and marketplace lender LendingHome is getting more than $450 million in investment and funding from different channels to help support mortgage production growth and technology improvements.

Entrepreneurs like LendingHome's Matt Humphrey are upending mortgage finance with tactics borrowed from fintech, marketplace lending and the traditional mortgage playbook.

With issuance of marketplace securitizations now exploding — rising 300% cumulatively in the past two years — the idea of online lending as a niche is quickly deteriorating.

Fee income also surged as the San Francisco bank reached the $100 billion mark in wealth management assets.

The Pittsburgh company benefited from loan growth and higher interest rates, though fee income fell and expense rose in the third quarter.

Wells Fargo took a surprise $1 billion charge in the third quarter for previously disclosed pre-crisis, mortgage-related regulatory investigations. It contributed to a 19% fall in profits.