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Smith joined the bank in January after serving as president of Keller Home Financial Services and heading Citi's U.S. mortgage business.

The top five lenders have a combined residential portfolio volume of more than $900 billion at the end of Q1 2023.

Decision-making algorithms powered by machine learning are seen as the next frontier for a more nuanced approach to mortgage decisions but skeptics worry this will just be a new way to discriminate.

In a speech, the Federal Reserve Board governor said tighter monetary policy is not to blame for the volatility seen in the banking system this spring.

The CEO of the world's largest asset manager said AI could have "some very large outcomes for long-term investing" and could also transform margins across sectors.

Now is the time to recruit this diverse, technology-focused demographic into the home lending business, industry leaders say.

Bank of America is also planning to expand into Madison, Wisconsin; Boise, Idaho; and Birmingham, Alabama, a company executive said. The goal is to find growth opportunities that don't require operating a large number of branches, the executive indicated.

CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.

Sen. JD Vance, R-Ohio, lambasted the Federal Reserve for increasing the dominance of "too big to fail" banks and failing to rein in systemic risk. He asked whether the Office of the Comptroller of the Currency is a better regulator than the Fed.

Republican-led bills seeking to reverse adjustments to mortgage fees and a bipartisan bill aiming to reinstate tax deductions on mortgage insurance stand to change operations for lenders if they pass.

Mortgage companies are using AI and other tools to reach those who expect nothing less than a super-personalized and interactive experience from their online services.

The top five lenders have a combined second-lien volume of more than $95 billion at the end of Q1 2023.

But a large gap exists in the degree of energy and investment depository institutions put in their customer acquisition efforts versus nonbanks, according to Arizent research.

As home lending sees some of the lowest volumes in decades, the mortgage industry seeks to tap into emerging trends and ideas that will draw in future waves of clients.

A West Virginia homeowner is suing the banking giant for charges incurred when paying by phone, claiming breach of contract and violation of consumer protection laws.

Residents in the five cities with the lowest scores have an average median credit score of 499.8 in 2022, according to WalletHub.

Approximately 320,000 properties valued up to $256,000 are missing from the market, a report from the National Association of Realtors and Realtor.com found.

More than any real world problem posed by IMBs, it is the government in all of its manifestations that poses a significant risk to the world of mortgage finance and the housing sector more generally, writes the Chairman of Whalen Global Advisors.

The top five lenders wrote a combined total of more than $34 billion in home loans during the quarter.

The government-sponsored enterprise has been using a predictive Jupiter Intelligence score suite to review its more than 17 million residential mortgage-related assets.