Technology

OCC to begin offering bank charters to nonbank fintech companies

Move already angering state regulators
Tuesday was a big day for fintech companies. In addition to the Department of the Treasury rolling out a series of proposals that could alter the playing field for fintech companies, the Office of the Comptroller of the Currency also announced Tuesday that it will begin offering bank charters to nonbank fintech companies.
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Trump administration calls for sweeping changes to financial ecosystem

“Regulatory sandboxes,” eMortgages, online notarization, automated appraisals, more
The Trump administration on Tuesday called for a series of changes to the country’s financial and mortgage ecosystems that, if enacted, would supercharge the financial industry’s technological revolution, upend the current regulatory environment, and potentially change the face of mortgage lending.
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Security deposit alternatives gaining ground in rental industry

Changing regulatory climate, burdensome bad debt and increased efficiency are all reasons property managers eschewing traditional security deposits
Property managers are turning to security deposit alternatives as a way to mitigate bad debt, get ahead of regulatory trends and increase efficiency. A security deposit alternative is essentially the replacement of a standard security deposit with a one-time premium that covers losses in the event that a resident leaves a unit in shambles or walks out on his or her lease prematurely.
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Here are the top 5 mortgage servicers

And what they’re doing right
Despite recent technological advancements in the mortgage industry, servicers continue to fall behind in an already lagging industry. The latest survey from J.D. Power shows Americans are not impressed. But some mortgage servicers did stand out above the rest, here are the top five.
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Informative Research announces integration with LendingQB

Tech solutions provider available to LendingQB LOS users
On Wednesday, technology-driven solutions provider and HW Tech100 winner Informative Research announced its integration with LendingQB’s loan origination system, giving the LOS’ users access to IR’s products. The company explained that with this integration, LendingQB’s LOS users will be able to order multiple products, including credit supplements, 4506-Ts, preclose monitoring, flood reports, and the company’s SoftQual solution.
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Fifth Third Bank app combats student debt

Customers paid off $1 million in student debt by rounding up debit card purchases
The weight of student debt can often be paralyzing, however, an app launched by Fifth Third Bank has reportedly freed up $1 million worth of loan debt for its customers. The Fifth Third Momentum is available to any Fifth Third debit card user and can be used with more than 30 major student-loan servicers, both public and private.
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Overstock.com moving into the real estate industry

The online retailer is launching a property management site with hopes of becoming a one-stop shop for the real estate market
Overstock.com is breaking into the real estate market. The online retailer will begin to manage properties for landlords of single-family rental properties and multifamily housing developments via its new property management site, Houserie. Overstock purchased Houserie back February in preparation for its bid to become a one-stop real estate shop.
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