Happen Bank ties 26% credit growth to home improvement loans
The lender-turned-bank is protecting itself against rising interest rates with extra hedging investments and anticipating external AI agent activity.
Freddie Mac’s loan acquisitions top Fannie’s as rates rise
Freddie has a smaller outstanding portfolio than Fannie but it has been more competitive when it comes to the dollar volume of single-family mortgages it buys.
Amex recruits its next chief risk officer from US Bancorp
Jodi Richard, who has been U.S. Bancorp’s risk chief since 2018, will oversee American Express’ global risk organization. The hire comes as Amex deals with anti-money-laundering compliance penalties.
ICE execs brush off spinoff talk amid mortgage challenges
The mortgage technology unit of Intercontinental Exchange also said in an earnings call that it will allow customer AI agents access through a new protocol.
Hassett sees Fed acting if October inflation data come in high
Hassett was speaking shortly after the latest PCE inflation report showed that core price gains, which exclude food and energy, clocked a 3.1% year-on-year pace for September.
Watch spreads, not the Fed, for mortgage rate shifts
Concerns regarding AI companies’ ability to handle inflation drove the 10-year Treasury under 5%, but with data still running hot, could yields turn upward?
Why the way advisors talk about Social Security changes claiming plans
Focusing on minimum or maximum ages to claim Social Security benefits has an effect on retirement planning, new research shows.
Even the largest U.S. banks measure AI returns differently
JPMorgan and BofA executives discuss AI returns differently. An American Banker survey finds banks that use pre-AI baselines more likely to quantify AI ROI.
Fed’s preferred inflation measure comes in hot at 3.6%
The Bureau of Economic Analysis’ PCE index came in at an annualized rate of 3.6%, confirming that prices continue to rise faster than the Federal Reserve’s 2% target.
Digital assets will usher in multiple paradigm shifts in banking
The adoption of digital assets and the technology enabling consumers to transact with them at all times will have far-reaching effects on how financial services are delivered — many of which we can’t yet imagine.