JPMorgan told FinTechs that it will charge for access to its customers’ bank information. The fees would bring big bucks to JPMorgan but eat into the profit margin of any lender or credit reporting agency or verification service. Will this become a trend with other depositories? Lenders and their originators, along with MBS investors, carefully watch trends in income and individuals. The gig economy, driven by on-demand work and services like rideshares and food delivery, is a growing part of the U.S. economy and primarily consists of sole proprietorships tracked by the U.S. Census Bureau’s Non-employer Statistics (NES) program. In 2023, the top five gig-related industries by number of individual proprietors were Couriers and Messengers, Taxi and Limousine Services, Janitorial Services, Independent Artists/Writers/Performers, and Child Care Services, all showing notable growth from 2018 figures. While not all non-employer businesses are part of the gig economy, these industries highlight the increasing prevalence and economic significance of gig-based work. Back to JPMorgan, some lenders are doing well, at least in the big bank world. JPMorgan reported that mortgage origination volume increased 26 percent YOY to $13.5 billion. Despite the jump in volume, production income actually fell, from $157 million to $151 million, but this was offset by an increase in servicing income. Wells Fargo clocked in at $7.4 billion in the quarter versus $5.3 billion for the second quarter last year. (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Curinos’ Ken Flaherty and Rich Martin on key opportunities for lenders to attract, retain, and grow more profitable customer relationships, across both first mortgages and home equity products.)