Researchers from Lehigh University concluded that telling commercially available language learning models, like ChatGPT, to "use no bias" significantly minimized it.

The industry would benefit from a measured approach that eventually builds in-house expertise without overreliance on vendors, experts said.

If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry. 

The lender and servicer saw origination volume jump to $6.5 billion as of June 30, up from $3.9 billion the previous quarter.

United Wholesale Mortgage, Celink, Cenlar and others are utilizing artificial intelligence to streamline call center operations.

Financial institutions have trouble pinning down a common definition of AI and figuring out which of their processes incorporate the technology. That can lead to trouble with regulators.

Four conceptual applications were chosen that address pain points in single and multifamily housing.

Witnesses from companies across financial services and housing, including a credit union and a core services provider, attested to the value of AI in fighting fraud and boosting customer service at a hearing in the House of Representatives.

The tool will streamline the LOs search for company mortgage offerings, guidelines and product-related questions, Guild said.

Efficiencies drive greater mortgage interest in careful use of artificial intelligence for marketing and research compared to others in financial services.