Originations

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

A handful of banks keep trying to make the customer-Alexa connection happen; banks are more worried about payments firms than other types of fintechs; how financial institutions are coping with COVID-19; and more from this week’s most-read stories.

With interest rates and unemployment at rock-bottom lows and home values rising, the part of JPMorgan's retail business that sells home loans to consumers made money last month, marking the first profitable January in five years, according to people familiar with the matter.

Wells Fargo appears to be outpacing its rivals in the API race; CFPB's unexpected showdown with Citizens; Varo gets vital FDIC OK for bank charter; and more from this week's most-read stories.

Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association.

Banks' lowering of origination fees and loosening of underwriting standards often foreshadow a downturn.

JPMorgan Chase may jump back into a mortgage program that helps low-income Americans buy homes, mulling a return years after most banks pulled back from the business in frustration over billions of dollars in penalties.

Mike Weinbach, chief executive of the home lending business, is departing JPMorgan Chase after 16 years.

The FHFA’s attempt to move some of its balance sheet into the private sector could leave investors with greater liabilities than they were initially told.

The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations.