Sergey Dyakin, CIO of Celink, outlines the nuances of implementing new technology in the HECM servicing business

During a second day of comparatively mild questioning from lawmakers in semiannual oversight hearings, Consumer Financial Protection Bureau Director Rohit Chopra said artificial intelligence could exacerbate existing weaknesses in the financial system without tighter protections.

Katherine Campbell, the founder of Leopard Job and former chief marketing officer at AnnieMac, foresees that many back-end jobs will cease to exist as new technologies take over.

With increasing focus on artificial intelligence in mainstream culture, the home lending field is making progress to adopt it across a variety of functions in the business. Here we round up a few recent developments in the space.

Experts across the financial services space hold that the White House's new mandates won't bring wholly new rules to the industry, but will hopefully explain what the path forward for governing agencies will look like.

Incorporating an artificial intelligence chatbot into its internal search engine tool is part of a "bigger narrative" that will unfold in months to come, the company's chief information officer said.

President Biden has directed government agencies to develop new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of artificial intelligence models.

President Joe Biden's executive order tackling artificial intelligence could reprioritize the Consumer Financial Protection Bureau's work in fair lending on artificial intelligence algorithms.

Large language models were a big part of the discussion during the company's earnings call on Thursday.