Scaling from Freelancer to Business Owner

A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments. View the full article

Mortgage credit availability increased 2.3% to 106.8 last month, marking the fourth consecutive month of growth. View the full article

A 50-year mortgage on a median-priced US home could reduce borrower's monthly repayment, but also double the amount of interest the owner pays over the life of the loan, according to UBS Group AG analysts. View the full article

Congressmen introduced the Retroactive Renewal and Reauthorization Act to the House Monday, with hopes to backdate the reauthorization of the insurance program. View the full article

Rate-and-term refinances dropped 14% month over month in October, but were still up 143% from last year. View the full article

The Department of Justice told a court that the bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB. View the full article

Recent merger activity also includes the purchase of an Alabama title company by technology firm Propy, as experts see ongoing consolidation through 2026. View the full article

While all six companies were profitable in the third quarter, most had earnings which were down from the prior periods, with MGIC setting a milestone. View the full article

Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency. View the full article

While the program is still going strong in spite of the shutdown, many misconceptions about its rules, even in normal times, are holding back use. View the full article

The wholesale giant hasn't endured setbacks in litigation against five brokerages it's accused of selling loans to rivals Rocket Cos. and Fairway Independent Mortgage. View the full article

More profitable companies are weighing deals because they're bullish on their leverage or are simply eying today's big price tags, the expert said. View the full article

Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction. View the full article

The FHFA director hinted at a partnership in the works and doubled down on criticism of homebuilders and the Fed chair in a housing conference interview. View the full article

Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval. View the full article

The average price of a single-family home increased 1.7% from last year to $426,800 in the third quarter. View the full article

Company leaders said current strategy sets it up to profit and compete against its rivals as the mortgage market improves in the coming months. View the full article

The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business. View the full article

A trade group for participants in the clean energy loan program argues the upcoming regulations will be too burdensome and costly for participants. View the full article

The Consumer Financial Protection Bureau ended a consent order earlier than expected against the credit bureau TransUnion, saying the company already paid a $5 million fine and $3 million to consumers. View the full article

The bill would provide pay for furloughed government workers, resume withheld federal payments to states and localities and recall agency employees who were laid off during the shutdown. View the full article

All five publicly traded title insurance companies reported a year-over-year increase in earnings during the third quarter, but only two had higher orders. View the full article

The number of highly qualified refinance candidates rose to 1.7 million, the most in three and a half years, as mortgage rates ease. View the full article

Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business. View the full article