Everybody say it with me, “Customer data is a liability.” And the Equifax breach shows why.

In order to compensate victims of the breach, Equifax is offering free credit monitoring services that include a mandatory arbitration clause, a measure Democrats were highlighting to lobby support for the CFPB's rule banning such clauses.

One lawsuit has already been filed against Equifax in the wake of its massive security failure. But that’s the just beginning of the consequences for the credit bureau and the banks that use it.

It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry, a warning that it needs to end its reliance on static personal identifiers.

Intruders accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers in what could be one of the largest data intrusions.

It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.

The changes to the National Multistate Licensing System will include a more customized user experience for companies and functionality for states to share examination data.

Mortgage companies in Florida are bracing themselves for the potential landfall of Hurricane Irma, which has followed close on the heels of Hurricane Harvey.

Ellie Mae, looking to expand the analytical capabilities of its customer-relationship management technology, is purchasing Velocify for $128 million in cash.

Rep. Maxine Waters, D-Calif., is calling on the FDIC to hold a public hearing on SoFi's application for deposit insurance.

My Home is Realtor.com's attempt to compete with Zillow's Zestimate home valuation product, as it seeks to help homeowners manage their property as an investment.

Fannie Mae is extending its property inspection waivers to certain purchase mortgages with large down payments.

The service, which carries a $9.95 monthly fee, recently completed a private beta test, with users managing more than $1 billion on the platform.

The nonbank lender and servicer's long-awaited rebrand comes along with wholesale changes across its entire operation to better emphasize the customer experience.

Freddie Mac has gotten the green light for its appraisal alternative for purchase loans, and has released information about how similar automated collateral evaluations for refinances have performed.

Western Bancorp, a wholesale mortgage originator, was acquired by Eli Global, a privately held investment company. Terms of the deal were not disclosed.

Collaboration will help make up for cost concerns from adopting the technology and ensure that the core vendors get the message of community banks’ interest.

The mortgage market is transforming at breakneck pace, with bank and nonbank mortgage lenders investing heavily in digitizing their process, improving the customer experience, and speeding time to close.

With condominium lending rising, CoreLogic is now offering lenders self-service access to its condominium project review data service.

Using historical patterns to predict the next financial success or crisis seems rational. But beware the human psyche’s tendency to concoct order out of randomness.