Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.

Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.

New notices pointed out how large learning models could lead real estate businesses to unintentionally violate the Fair Housing Act in a marketing campaign.

Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.

AI is eliminating some of the day-to-day drudgery of a mortgage professional, giving them space to create more success in their career.

Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.

The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.

A multiyear agreement will enable Mphasis to use AWS platforms for modeling industry-use cases, especially concerning data extraction and document processing.

The newly launched Rocket Logic platform can pull and analyze documents instantly, helping to shrink closing times by about 25%, the lender claims.

Tracy Stephan's appointment to the new role is in line with broader federal directives follows other changes in staffing in the Office of Financial Technology.

Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.

In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.

The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.

While the rise of artificial intelligence in home lending brings about "fascination" over its capabilities for some, others claim it's a technology people might use "to mask their incompetence."

While many working in home lending are looking to artificial intelligence for future efficiency and automation, job loss is also a concern among a majority of respondents in a new Arizent survey.

Keeping vendor arrangements under wraps, "pen-tests" and a few simple email setting changes can make a world of difference in avoiding future attacks, experts say.

The New York bank has deployed generative artificial intelligence from Greenlite to help analysts do enhanced due diligence on clients with higher risk ratings.

Research from J.D. Power found that bank customers are most concerned about letting AI move money on their behalf or place a barrier between them and their money.

The megalender and servicer Rocket reported annual origination volume in 2023 of $78.7 billion, a 40% decline from 2022.