Mortgage technology

The cloud storage provider has notified 165 potentially exposed businesses.

North American firm Voxtur Analytics said a U.S. mortgage investor group backing a new slate of board nominees hadn't provided some information Canada requires.

The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

The inclusion of policy addressing potential bias or discrimination in AVM models drew both support and criticism, with some stakeholders calling for the creation of an independent nonprofit to help ensure compliance.

Leadership across all financial services was more likely to see a significant skills gap in today's workforce compared to the mortgage industry, according to Arizent's research.

As mortgage originations have declined, those looking to cash in their chips and get out of the game are helping others grow market share, serving to change up the dynamics within the field.

Lenders including The Loan Store, Movement Mortgage, Bayview Asset Management and Saluda Grade are already using Figure Connect, the company said.

Lenders need to look at both data and algorithms to avoid inadvertent redlining complaints, not just in decision making but customer contact too.

The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.

The pairing of these rule sets can multiply the layers of compliance to vet when adopting new technology. Here's how experts suggest approaching this challenge.

With millions of Black and Hispanic consumers likely to become new homeowners over the coming decades, the lending community stands to benefit if they are willing to combine expanded underwriting with direct outreach.

Executive Vice President of Strategy and Growth at Clear Capital, Kenon Chen, on how the company is using machine learning and computer vision to analyze and compare property values.

The ease of producing a fake video means financial businesses and their clients stand at risk of being targeted by fraudsters.

Mortgage-related businesses need to use a variety of low-cost tools to mitigate their risks, according to a panel of cyber risk leaders.

Fannie Mae called out AI's potential to end defects as Freddie Mac sought to spur current loan-quality tool use by quantifying benefits at an industry meeting.

The two mortgage consultancy firms touted services that complement each other and will transition to a single brand name in the coming months.

The platform, akin to ChatGPT, was developed in partnership with Microsoft, Google and OpenAI.

The engine, rebranded as ICE PPE, was considered not as robust as the Optimal Blue product it was forced to sell in the Black Knight deal.

Radian joins existing shareholders in the new financing, which adds to a Series A round of $19.8 million conducted in 2020.

Home lenders are taking a hard look at fulfillment compensation due to persistent profitability strains while keeping in mind growing compliance considerations.