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CFPB finalizes rule that lays the foundation for open banking

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has finalized a rule that lays the groundwork for open banking in the U.S. Announced on Tuesday, the new rule mandates that financial providers — including banks, credit card issuers and mortgage companies — share personal financial data for free with their peers when customers request it.

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WaFd Bank exits home mortgage lending, says model is ‘unsustainable’

Housing Wire

Seattle-based WaFd Bank , which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. That is bad news for banks like WaFd Bank, because it has made the business of originating mortgages for our portfolio unsustainable.

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Windsor Mortgage CEO explores technology services, coaching in the wholesale market

Housing Wire

In the most recent episode of the Power House podcast, host and HousingWire President Diego Sanchez sits down with Chris Vinson, CEO of Windsor Mortgage , a division of Plains Commerce Bank. The conversation covers Windsor’s growth and success in recent years, including its focus on wholesale lending , technology and coaching.

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Fifth Third Bank signs on with ICE’s mortgage technology ecosystem

Housing Wire

Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) Mortgage Technology ’s end-to-end mortgage technology ecosystem, the companies announced on Tuesday. That is a common goal we share.

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New York governor backs moves to fight elder financial exploitation

Housing Wire

Hochul is seeking to mandate specialized training for bank tellers and other banking professionals in New York to identify and stop instances of elder financial abuse before they take place, according to a report from Newsday. Kathy Hochul (D) wants to see her states Legislature address it more directly.

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Mr. Cooper won’t be onboarding as many Flagstar employees as initially anticipated

Housing Wire

Cooper won’t be onboarding as many Flagstar Bank employees as initially projected in its $1.4 billion deal to acquire the depository bank’s residential mortgage servicing operations. trillion in its servicing portfolio and has made big upgrades in technology to help recapture loans. It now has north of $1.5

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How gen AI is making real estate cybercrime easier than ever

Housing Wire

Previously, ONeill said cybercriminals would specialize in certain parts of the crime or in certain technologies. Now, however, ONeill says AI has made it where cybercriminals dont really need any level of technological proficiency. And the FBI issued a public service announcement over fraudsters usage of generative AI.

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