Nonbank

The longer the CFPB waits to implement tighter regulations for the payday lending industry, the more Americans will find themselves trapped in a cycle of unaffordable debt.

The relationship between banks and private equity has been tense at times, but the aid PE firms are supplying to struggling energy firms could limit the losses suffered by lenders.

Ocwen Financial's internal review group is "independent," and the Atlanta servicer is in compliance with the national mortgage settlement, settlement monitor Joseph A. Smith said Tuesday.

Marlin Business Bank has launched a new site to compete with alternative lenders such as OnDeck and Kabbage, which specialize in providing quick and convenient access to small-business credit.

The bankruptcy of Wingspan Portfolio Advisors epitomizes the existential crisis facing default servicing. This once-thriving sector of the mortgage industry now finds itself declining in lockstep with the drop in loan delinquencies and foreclosures.

Bankers were pleased with the dramatic leap in home lending last quarter, but they cautioned that volume will slow in the second half as rate increases curb refinancings, nonbanks provide stiffer competition, servicing costs remain high and underwriting standards change.

Struggling to win business in the age of QM, Impac Mortgage has relaxed underwriting requirements in hopes of attracting borrowers many other lenders won't touch.

There are plenty of opportunities for banks to collaborate with the tech startups that are driving rapid change in the financial industry. But first they need to find innovative ways to address systemic challenges like compliance as well as cultural differences.

After it all but stopped making real estate and development loans following the housing crash, Farmers & Merchants Bank has increased its real estate loans by more than 61% over the last two years. It's a figure that's likely to keep rising as California's real estate market heats up and the $5.6 billion-asset bank continues to add commercial real estate, construction and mortgage lending specialists to keep pace.

As investment dollars flood into the alternative lending sector, fueling the rapid growth of early entrants such as Lending Club, lots of smaller online loan platforms are also popping up. Many of these new firms are specializing in narrow lending niches, touting their expertise in underwriting particular forms of credit. Here's a rundown of some of these specialties.

You'll find many disruptors in banking, but startups like Moven aren't among them. In essence, virtual banks simply dress up web storefronts to look like banks but offer one-tenth the services.

Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.

Silicon Valley firms like Apple and Lending Club are happy to partner with banks — so long as they get to be the face of customer interactions. But banks may not easily give up that ground.

Payday lending activity increased in California last year, but the size of loans and fees charged both declined, according to a new report from California's banking regulator.

Some argue that nonbank mortgage lenders' rising market share poses a risk to the financial system. But this belief arises from an inaccurate understanding of what is in fact a well-regulated sector.

RealtyMogul.com in Los Angeles said it reached agreements for a total of $250 million in capital, which it will use to offer new products.

The mortgage lender Nationstar Mortgage Holdings is pouring a lot of energy into a digital and mobile homebuying platform called Xome. The strategy could attract tech-savvy millennials but carries plenty of risks including whether consumers would be improperly steered to its products.

The Consumer Financial Protection Bureau issued a final rule Wednesday that allows it to monitor the biggest nonbank auto finance companies.

Orchard Platform in New York has added two nonbank lenders to its marketplace lending service that matches institutional investors with loan originators.

So far, Washington has generally smiled on tech-driven lenders such as Lending Club and OnDeck. But many in the fast-growing industry are now bracing for closer scrutiny.