Citing artificial intelligence as the differentiator, United Mortgage Lenders, Boca Raton, Fla., has chosen MindBox's ARTOptimize product suite for its Bulls-Eye point-of-sale decisioning system.The artificial intelligence of the system takes it beyond pre-qualification and automated underwriting. "It can be taught how to behave and what to present to the loan officer," said UML president and CEO Jamie Thornton. "If a new investor enters the picture, we can teach the system the new investor's product eligibility rules, pricing & pricing adjustments by updating the rules in the MindBox Power Editor." The Greenbrae, CA-based MDA Mindbox's decisioning systems feature rule- and case-based reasoning software.
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Loandepot is arguing that its local rival, West Capital Lending, has no standing to sue it over the statute meant to protect consumers from predatory lending.
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Christopher Peterson, a law professor at the University of Utah and former senior advisors at the Consumer Financial Protection Bureau, is the latest top hire for a Democratic state stepping up consumer protection.
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U.S. District Judge James Robart found the complaint lacked statutory standing for a RESPA claim and the plaintiffs failed to identify any deceptive conduct.
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The sale comes several months after private equity firm Hale Capital Partners acquired the financially troubled company formerly known as Voxtur Analytics.
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Meanwhile, MISMO has updated its guide to incorporate the updated scores for use with mortgage insurers and VantageScore Solutions rolls out a new model, 5.0.
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The real estate investment trust struggled with legacy assets and its bottom line, but sees a path forward with non-QM, third-party originations and AI.
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