Credit

First internet Bancorp, which has recently been grappling with credit quality issues, has agreed to sell an $869 million portfolio of single tenant commercial real estate loans to Blackstone.

Taylan Turan, who was previously HSBC Holdings' global CEO of retail banking, will join the Canadian bank later this month as chief operating officer.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

The lender, which uses existing credit balances to fund installment loans, has linked to Samsung Pay and plans other partnerships in the future to build a global merchant network.

High interest rates and tough economic conditions played a role in the credit woes that overcame BayFirst Financial's small-dollar lending effort.

A FICO survey shows 33% think exaggerating income on credit applications is acceptable. Ironically, many also prioritize strong fraud prevention from banks.

Federal Housing Finance Agency Director Bill Pulte should direct the agency to examine credit scoring models based on cash flow as a complement to existing systems.

The Columbus, Ohio-based regional bank also benefited from strong performances by several legacy business lines, including auto, mortgages and SBA lending.

Private mortgage insurers must accept the FICO alternative as valid collateral before it can be widely adopted by the mortgage industry.