Commercial banking

Rocket Companies confirmed it had reduced its workforce following the completion of its Redfin merger. The company also plans to discontinue Rocket Card on Sept. 8.

Choppy market conditions, including mortgage rates which remain elevated, had an impact on profitability at four of the nation's homebuilders in the quarter.

Real estate agents add that they are integrating AI in their daily work, with many using it for marketing and communications.

Sales of previously owned US homes fell in June to a nine-month low as potential buyers continued to bristle at record prices and high borrowing costs.

Mr. Cooper's Q2 profit surged on servicing gains, despite missing estimates, as it preps for Rocket deal and eyes MSR growth with new client wins.

Multiply Mortgage says it can secure up to 75 basis points off interest rates, and other homebuying perks, for employees at companies using its free program.

The massive lender and servicer continues to tout its recapture opportunity, with a quarter of its $700 billion portfolio holding note rates above 6%.

The nation's sixth largest real estate broker has created Elliman Capital in a strategic alliance with Associated Mortgage Bankers.

President Donald Trump said he is considering a proposal to end capital gains taxes on home sales in a bid to boost the housing market.

Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.

A "large institutional investor" will provide funding to assist Rithm in acquiring as much as $1.5 billion worth of residential transition loans.

Horton shares surged as much as 14% after the company released results for the fiscal third quarter, the biggest intraday gain since April 2020.

Sandy Kaul is head of innovation at Franklin Templeton.

Amit currently works as Vice President, Underwriting Product Management, at Reinsurance Group of America, Incorporated (RGA).

With more than 24 years of management experience in various Fortune 500 Technology & Insurance companies, Amit brings global expertise in product management, AI, and risk analytics to benefit the insurance industry.

He holds an MBA from Columbia Business School and an Engineering degree, with majors in Electronics. He also has a certification in Intellectual Property and Global Dispute Resolution from Columbia Law School. Amit also serves as a faculty at Fu Foundation School of Engineering, Columbia University, where he teaches AI and Applied Risk Analytics.

He holds multiple granted patents in the field of AI that have direct commercial applicability in underwriting and claims optimization use cases. He also serves on multiple boards, including the ITC Advisory Board.