Former Wells Fargo CEO John Stumpf will have to pay a $17.5 million fine for running the bank while it opened millions of fake accounts. So reports USA Today.

Imagine a future where mortgage origination happens in a matter of hours. Even though it might take some time, technology is rapidly progressing, and this future might be closer then you think.

[caption id="attachment_14060" align="alignright" width="232"] J. Christian Olin, Vice President, Direct Lending, On Q Financial[/caption]

Visa has agreed to buy Plaid in a $5.3 billion deal, the companies have announced. The startup provides some of the financial plumbing for fintechs and has a mortgage industry presence.

Betty from Texas asked the following question: "I heard that there are changes coming in licensing requirements. I am planning on hiring several originators in the coming months. Can you give me the scoop?"