Key insight: Community banks may be able to benefit from the enormous buildup of AI capacity, as the cost of AI-based fraud detection falls. What’s at stake: Criminals’ use of AI-generated deepfakes to commit fraud has been growing rapidly. Expert quote: “What was once the stuff of movies is now a reality,” said Federal Reserve […]
Fed’s Barr warns community banks about AI fraud risks Read More »
What’s at Stake: A three-judge panel already ruled in August that the Trump administration can fire up to 1,500 employees of the CFPB. Forward Look: Allowing the Trump administration to dismantle the agency would represent “a blatant disregard for Congress’s constitutional role,” Democrats claim. Expert Quote: “Only Congress has the power to shutter the CFPB,”
Democrats urge full D.C. Circuit to hear CFPB court case Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. AEI’s flawed conclusions, if taken at face value, could wrongly influence how the mortgage industry approaches credit access, risk, and consumer inclusion. The American Enterprise Institute’s latest critique of VantageScore’s recent white paper doubles down on their false assertion that VantageScore is picking GSE
Why AEI’s VantageScore 4.0 critique misses the mark Read More »
Key Insight: McKernan’s confirmation comes as the Trump administration’s deregulatory financial agenda begins in earnest, positioning a seasoned industry ally in a key Treasury post. Supporting data: McKernan was confirmed in a 51–47 vote. McKernan was nominated to lead the Consumer Financial Protection Bureau earlier this year but his nomination was withdrawn in May. Forward
Former FDIC board member confirmed to top Treasury role Read More »
The data void created by the US government shutdown is pushing bond traders to hedge against the risk that the Federal Reserve pauses at one of its two remaining meetings this year, or potentially delivers more policy easing than the market anticipates. Interest-rate swaps have been steadily pricing in roughly a quarter-point rate cut in both October
Bond traders step up Fed hedges as shutdown clouds outlook Read More »
Applications for mortgages to buy a home or refinance both fell for a second week, marking a swift reversal of what had been a hopeful sign of a revival in the US housing market. The Mortgage Bankers Association’s index of home-purchase applications declined 1.2% in the week ended Oct. 3, while a gauge of refinancing
Mortgage activity dips again in swift reversal of home demand Read More »
If you’ve been following real estate news lately, you’ve probably seen headlines saying home prices are flat. And at first glance, that sounds simple enough. But here’s the thing. The reality isn’t quite that straightforward. In most places, prices aren’t flat at all. What the Data Really Shows While we’ve definitely seen prices moderate from
Why Home Prices Aren’t Actually Flat Read More »
Borrowers suing Loandepot are sharing alleged evidence of the lender’s scheme to steer borrowers to higher rates and deprive its loan officers of their full compensation. The latest filing in a Truth in Lending Act lawsuit cites emails, screenshots and the testimony of three LOs discussing the company’s actions to circumvent the loan officer compensation
Loandepot faces claims of ‘smoke and mirrors’ rate scheme Read More »
Mortgage rates have been in a very narrow range for nearly 3 weeks with the last major move seen on September 17th and 18th following the Fed rate cut. Paradoxically but not surprisingly, rates actually moved higher after the Fed cut the Fed Funds Rate. Contrary to popular belief, Fed comments and policy changes are
Mortgage Rates Hold Steady in Tight Range Read More »
With the market favoring buyers, more home sales are falling through as minor disagreements can lead to deals being called off. Nearly 60,000 home-purchase agreements were canceled in August, according to a new report from Redfin, a subsidiary of Rocket Cos. That’s 15.1% of homes that went under contract, up from 14.3% a year earlier
More home sales fall through as buyers gain leverage Read More »