The mortgage industry's digital transformation is revolutionizing the home buying experience and upending the status quo for lenders and servicers. The Digital Mortgage Conference is the premiere event exclusively dedicated to these developments, bringing over 1,500 professionals to Las Vegas on Sept. 17-18 for keynote speakers, panels and the main attraction: live product demos showcasing the latest mortgage innovations.
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The three challenger banks have defied the odds and created business models that have made them net positive in a market where fewer than 5% of startups are making money.
September 12
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VTB, one of the largest state-run financial institutions in Russia, is allowing transfers in yuan without using the SWIFT messaging system. However, building scale without access to Western markets will be a challenge.
September 12
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The Mortgage Bankers Association forecast comes as bankers continue keeping an eye on their commercial real estate portfolios, including office buildings. The MBA also noted that many companies have long-term leases on their offices, likely making the hit more gradual.
September 11
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The International Standards Organization's approval of a new merchant category code for gun and ammunition sales paves the way for credit card networks to begin flagging suspicious weapons sales to law enforcement agencies.
September 9
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The average rate on variable-rate cards rose above 18% this week, the highest level since 1996, according to data from Bankrate.com. The industry has been enjoying large profits, which has caught the attention of the Consumer Financial Protection Bureau.
September 9
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South End Capital, a division of Stearns Bank in Minnesota, is touting a nationwide Small Business Administration small-dollar loan product that can provide funding within days, perhaps hours. It's one of several recent small-dollar SBA lending initiatives now being offered by banks.
September 9
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Bank of America says August was its best month ever for Small Business Administration lending and that it's optimistic a new program supporting women and minority commercial real estate borrowers could boost production even more.
September 9
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The European Central Bank is intensifying discussions with bank executives over their readiness for a potential surge in company defaults and a drying up of energy market liquidity amid a worsening standoff over Russian gas supplies.
September 9
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The democratization of corporate governance, ESG initiatives and other insights from Broadridge CEO Tim Gokey.
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Elizabeth's death and the face of U.K. money, MoneyGram reaches out and more in banking news this week.
September 9
