Contracts, Invoices & Legal

AI is transforming legacy modernization efforts as Wells Fargo builds systems for agents to take on humanlike tasks and interact with one another. View the full article

The MBA's Market Composite Index, a measure of mortgage loan application volume, dropped 5% on a seasonally-adjusted basis and 6% on an unadjusted basis. View the full article

What makes the situation alarming is the government attack on the fair lending enforcement infrastructure, said Lisa Rice of the National Fair Housing Alliance. View the full article

At its first investor day in a decade and a half, the nation's second-largest bank pegged its guidance for return on tangible common equity at a slightly higher level than what it reported last quarter. Not all investors were impressed. View the full article

WomenVenture, a Minneapolis-based Community Development Financial Institution, was already under strain from stalled federal CDFI funding. The recent immigration crackdown added significant uncertainty for its customers as well. View the full article

Remote work helped fuel migration and erased the loss of rural residents that occurred in the decade prior to the arrival of Covid, Harvard researchers found. View the full article

The President administration officials are exploring opening an antitrust investigation into US homebuilders as the White House sharpens its focus on tackling the country's housing affordability crisis. View the full article

The accusations, relating to the lender's marketing programs, including trips for brokers as things of value, stem from a larger racketeering complaint. View the full article

A majority of recent sellers said they offered to cover closing costs, with many also buying down mortgage rates, according to a new report from Zillow. View the full article

Home prices rose 0.2% nationally month-over-month in November, but there were an estimated 37.2% more sellers than buyers in the market, Redfin said. View the full article

Dan Sogorka is leaving Rocket to be with his family in San Diego, while Austin Niemiec's title is unchanged but he will no longer be responsible for retail. View the full article

The bank regulator is proposing to strengthen national preemption in the wake of conflicting decisions in related court cases. View the full article

The The President administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year. View the full article

Lebda, who died over the weekend in an ATV accident, built one of the first online financial marketplaces in 1998. View the full article

The Department of Housing and Urban Development announced the FHA-insured loan caps for low- and high-cost areas, which are set based on conforming loan limits. View the full article

The wholesale lender fell victim to a data incursion two years ago in a months-long period marked by several high-profile cybersecurity incidents. View the full article

Jonathan Yasko pleaded guilty to diverting monies in real estate transactions to cover unrelated closings, and to pay for his own cars and personal travel. View the full article

Executives surveyed by American Banker said companies vying to wrestle market share from banks are a major threat to operations in the coming year. View the full article