Nonbank

FICO and two data partners are testing a credit score based on alternative data that could help banks take smarter risks on borrowers with limited credit histories, but bankers' cost concerns and adherence to traditional methods present big hurdles.

The Securities and Exchange Commission just gave unregistered banks a way to quickly raise capital at a fortuitous time — and marketplace lending platforms a way to reclaim their peer-to-peer roots.

After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products

The Justice Department's Clifford White is putting all mortgage servicers on notice that they too will be punished if they flout bankruptcy rules.

If you thought the subprime mortgage-backed security was an artifact of the past, think again. Nomura Holdings and Angel Oak Capital have a deal that may help revive the part of the market that went bust during the crisis. Their success could encourage more banks to dip their toes back into riskier mortgages.

Ocwen Financial is fighting back against a group of large bondholders that have accused the Atlanta mortgage servicer of improper servicing practices and an alleged breach of trust.

Bank of New York Mellon is building out a new investment firm with the mortgage specialist Amherst Holdings. The move is its second major commitment to a fixed income-related fund this year.

Ocwen Financial has delayed filing its 2014 results and announced the sale of more servicing rights.

An expected rush of refinancings of Federal Housing Administration loans could force some mortgage servicers to take writedowns in the first and second quarters, but they have more incentive than ever to keep borrowers in the FHA program instead of letting rivals lure away their customers.

Industry groups are urging the Pentagon to soften its proposed expansion of a rate cap on loans sold to service members, but banks face opposition from dozens of advocacy groups that favor tougher restrictions.

Some newcomers to mortgage servicing did not hedge because hedging would have increased costs. Had rates moved up, the strategy would have paid off handsomely. Instead, it worked against them.

International remittances grew at a number of banks last year, according to new data, but anti-money-laundering rules may make the fee-based business too expensive to keep.

Embattled mortgage servicer Ocwen Financial faces up to $26 billion in damage claims by bondholders and a greater risk of being fired as a mortgage servicer on thousands of small, private-label trusts.

Prosper Marketplace, an online lender for consumer loans, has found a new source of referrals: community banks.

One in three struggling homeowners who received a loan modification through the Home Affordable Modification Program ultimately redefaulted on those loan.Meanwhile, the program that was supposed to help some 4 million families avoid foreclosure has helped only a fraction of that amount, according to a report presented to Congress.

Marketplace lending platforms like Lending Club still need banks to make the loans. Cross River Bank CEO Gilles Gade, who has deals with 14 platforms and has talked with dozens of others, explains the mechanics of these agreements in a Q&A.

Daunted by the challenge of how your bank can help underserved members of the community? Here are some simple tips and bits of wisdom from bankers, nonprofit leaders and local government officials.

OnDeck Capital, the online lender whose initial public offering raised eyebrows in December, posted a net loss of $4.3 million for the fourth quarter in its first report as a public company.

It's not quite too big to fail, but Ocwen is the country's largest servicer of subprime mortgages. So if it were forced to sell itself, or even failed, the transfer of some $410 billion in servicing rights could create havoc in the mortgage market, industry experts said.

Ocwen Financial has tentatively agreed to sell a mortgage-servicing portfolio on $9.8 billion of loans to Nationstar Mortgage Holdings, and Ocwen hinted that more deals may be in the offing.