Fair Isaac and Fidelity picked the Mortgage Bankers Association convention in San Francisco to announce an enterprise-wide licensing agreement to deploy Fair Isaac's Blaze Advisor as the core of Fidelity's rules-layered architecture, spanning Fidelity's entire suite of product offerings.The result is expected to be that Fidelity will enjoy reduced costs in managing all its systems and will increase its speed to market with new products. The Fidelity announcement noted that business rules are playing an increasing role in streamlining complex enterprise systems. Fidelity said it chose Blaze Advisor because it offered comprehensive implementation support.
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The deal reinforces PennyMac's AI-focused pivot and will also accelerate development and growth of its proprietary servicing platform, the lender said.
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Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.
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This industry executive finds subservicing mortgages impacted by rule changes and relatively higher delinquency rates helps test operations and keep them sharp.
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Higher mortgage rates and affordability pressure prompts Fitch Rating's revision from 'neutral' to 'deteriorating'
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A California appellate court reversed a lower court's dismissal of a lawsuit over CrossCountry's alleged 2021 raiding of a Seattle-area branch.
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HUD said its Office of Fair Housing and Equal Opportunity has reduced a Biden administration case backlog by 27% and accelerated investigations.
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