Banking

Some proposed changes to uniform mortgage-backed securities, apartment loans and derivatives will be made while one involving credit reports and scores was pulled.

With increasing focus on artificial intelligence in mainstream culture, the home lending field is making progress to adopt it across a variety of functions in the business. Here we round up a few recent developments in the space.

The Consumer Financial Protection Bureau said in an annual report to Congress that unpaid medical debt is plagued by inaccuracies, and that consumers are often faced with opaque pricing and uncertain insurance coverage.

Experts across the financial services space hold that the White House's new mandates won't bring wholly new rules to the industry, but will hopefully explain what the path forward for governing agencies will look like.

The agreement includes funds for small-business lending and mortgages for low- and moderate-income borrowers in California and Massachusetts. It puts an end to questions about the fate of an $11.2 billion plan that Silicon Valley Bank inked before it failed in March.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.

The market could find out next year how well foreclosure prevention innovations and home equity protect borrowers from growing strains on affordability.

WeWork, once valued at $47 billion, needs to slash costs and shore up its finances as it tries to continue operating.

As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.

The coworking giant's spiral hit landlords along the way as it renegotiated and sought to exit many leases.