Home equity loans

The CFPB is giving trade groups and consumer advocates another three months to comment on its proposal to change what data is collected under the Home Mortgage Disclosure Act.

The Atlanta company, which reported fourth-quarter results Tuesday, said that the lending partnership with American Express will launch in Atlanta, Chicago, Dallas, Los Angeles and Dallas within the next 60 days.

Figure, the startup headed by Mike Cagney, uses blockchain technology to provide home equity loans in as little as five days. It intends to use the newly raised funds to offer other services, including wealth management.

Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.

Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending.

The post-recession boom in auto loans and credit cards for borrowers with marred credit histories has been winding down in recent months.

Capital One Financial will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable.