Demographics

Mortgage companies are using AI and other tools to reach those who expect nothing less than a super-personalized and interactive experience from their online services.

But a large gap exists in the degree of energy and investment depository institutions put in their customer acquisition efforts versus nonbanks, according to Arizent research.

Just under half of respondents in a recent mortgage study said cost of living increases have impacted their ability to make a home loan payment in the past six months.

Terry Dolan will see his role expand when two senior executives retire this summer, and will then hand over CFO duties to John Stern in September.

But these expenditures are still expected to increase by over 10% compared to 2021, which is more than double the 5% historical average, the Joint Center for Housing Studies of Harvard University said.

Hafize Gaye Erkan, whose surprise departure from First Republic Bank disrupted the lender’s succession plans earlier this year, will become chief executive officer of Greystone as the closely held commercial-property lender expands into wealth management and private banking.

But the share of homes purchased by those under age 30 has fallen steadily after peaking in 2020 as prices accelerated.

This group is decidedly less ambivalent about the housing market — and saving and investing — than their millennial brothers and sisters.

As Gen Z and millennials become homebuyers, companies are adding and upgrading their apps in the hopes of gaining a greater market share.

Average incomes for this age group increased by 24% since 2012, but housing prices jumped 86%.