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Re-Fi? Standby … Rates are not great right now

Oct 19, 2018
Five years ago, refinancing made up 75 percent of the mortgage business. Today, it’s just around 37 percent. With climbing interest rates, demand has dipped and the mortgage industry is poised to shed jobs. Click the audio player above to hear the full story. 

Re-Fi? Standby … Rates are not great right now

Oct 19, 2018
Five years ago, refinancing made up 75 percent of the mortgage business. Today, it’s just around 37 percent. With climbing interest rates, demand has dipped and the mortgage industry is poised to shed jobs. Click the audio player above to hear the full story. 

Regulation of installment loans varies widely by state

Oct 18, 2018
A new report from Pew Charitable Trusts finds that nearly 10 million Americans turn to consumer finance companies for short-term installment loans when they need quick cash. But just how much they pay in finance charges can add up depending on how their state regulates lenders. Here’s why some groups are calling for stricter rules […]

Regulation of installment loans varies widely by state

Oct 18, 2018
A new report from Pew Charitable Trusts finds that nearly 10 million Americans turn to consumer finance companies for short-term installment loans when they need quick cash. But just how much they pay in finance charges can add up depending on how their state regulates lenders. Here’s why some groups are calling for stricter rules […]

With Fed giving Wells Fargo good marks on its financials, the bank tries to look beyond recent scandals

Jul 2, 2018
Wells Fargo has seen its share of bad headlines recently … from news it opened fake accounts, to a payout of $1 billion to settle claims of improper mortgage and auto lending practices. But there was a bright spot for the bank last week when it passed the Federal Reserve’s annual stress test, that measures […]

Immigrant lending clubs provide capital, at a cost

Nov 20, 2017
Functioning like unregulated banks, there is little cushion against failure.
A man walks along an empty street November 27, 2001 in the usually bustling Chinatown section of New York City. Chinatown is located in Lower Manhattan near Ground Zero and has been in a deep economic slump since the September 11th World Trade Center attacks.
Mario Tama/Getty Images

Credit card companies are easing lending standards

Jun 12, 2017
Credit card defaults are rising as lending standards have started to fall from the early post-recession days — that’s according to a new report by the credit rating agency Moody’s. The report shows even with unemployment at low levels, those charge-offs have increased significantly for some U.S. lenders, exceeding expectations of a modest rise.   […]

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For the first time, most mortgages aren’t made by banks

Nov 2, 2016
While banks make loans to those with extraordinary credit, these companies take on more risk.
New houses line the street in the Inland Empire in Ontario, California.
David McNew/Getty Images

Why there's almost no mortgage lending in Detroit

Oct 5, 2016
Houses are cheap. But banks won't make loans, especially in black neighborhoods
Getting a loan in Detroit, where median home values are still well below $50,000, has become rare.
Lewis Wallace/Marketplace

Tech and finance team up and give banks a scare

Dec 14, 2015
FinTech is pulling in business that banks gave up. And now they want it back.