Retail & Commercial

The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.

Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.

Organizers of the Winter Park-based Portrait Bank said they exceeded their capital-raise target by a wide margin, clearing the path for a June soft launch.

Banks' core ledger systems are a sclerotic holdover from the past. The future belongs to the banks that set them aside and allow transactions to close in real time.

Santander U.S. and Webster Financial are doing integration work in advance of their pending merger, including naming business-line leaders, the banks said in separate notes.

The neobank is rolling out Chime Prime, a new membership service that rewards customers for making Chime their primary bank account.

The Minneapolis-based company plans to leverage the arrangement to draw more attention to its growing list of national business lines, transcending its regional reputation.

Traditional banks ceded control of the fastest-growing segment of infrastructure finance — renewable energy — to private capital. The question now is whether they can reclaim some share of what's left over.

The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.

A federal appeals court has agreed to rehear a challenge to a Colorado law intended to combat "rent-a-bank," arrangements that would impose Colorado's interest rate caps on certain out-of-state banks.