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.

The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.

The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

The head of data and digital at Ally Bank came up with protective measures governing the use of generative AI and organized "AI Days" for employees to learn about Ally's progress.

Leadership across all financial services was more likely to see a significant skills gap in today's workforce compared to the mortgage industry, according to Arizent's research.

The new Optimal Blue CEO worked for the past year-plus at Medallia, and will bring that broader experience to the mortgage industry as it adopts generative AI.

Lenders need to look at both data and algorithms to avoid inadvertent redlining complaints, not just in decision making but customer contact too.

The pairing of these rule sets can multiply the layers of compliance to vet when adopting new technology. Here's how experts suggest approaching this challenge.

With millions of Black and Hispanic consumers likely to become new homeowners over the coming decades, the lending community stands to benefit if they are willing to combine expanded underwriting with direct outreach.

Executive Vice President of Strategy and Growth at Clear Capital, Kenon Chen, on how the company is using machine learning and computer vision to analyze and compare property values.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

Acting Comptroller of the Currency Michael Hsu Thursday said AI providers and end-users — including banks — should share responsibility for errors that derive from artificial intelligence models.

The ease of producing a fake video means financial businesses and their clients stand at risk of being targeted by fraudsters.

Fannie Mae called out AI's potential to end defects as Freddie Mac sought to spur current loan-quality tool use by quantifying benefits at an industry meeting.

Test your knowledge of the biggest mortgage headlines, from new mortgage execs to AI chatbots. No. 2 pencil not required!

The platform, akin to ChatGPT, was developed in partnership with Microsoft, Google and OpenAI.