Mortgage technology

Lenders used the firm's software in nearly a quarter of originations in the second half of last year, up from 14% over the same period in 2021.

The incident affecting the information of 1,361 customers is a rare disclosure of a data breach from a top mortgage lender and servicer.

Both tools are currently in use by eligible customers with waitlists open to others who are interested.

Earnings dipped for both companies coming in at $236 million and $328.2 million, respectively.

The servicer didn't disclose how many customers were affected by the incident.

The parties responded to the Federal Trade Commission's court filing that sought an injunction to halt their merger pending an internal adjudication.

The company also has plans to bring on board $37 billion in subservicing contracts in line with its acquisition of Rushmore Loan Management Services.

An interagency statement warned that automated systems have the potential to perpetuate discrimination and that such systems should be developed and used "in a manner consistent with federal laws."

A Consumer Financial Protection Bureau case against the lender involved is still pending and could have broader implications for compliance issues.

Investment in software that reduces costs and improves efficiency has slowed but innovation continues.

A federal judge recently gave the go-ahead to the lawsuit from the larger company against its smaller competitor.

The Federal Trade Commission is seeking a temporary restraining order to prevent the deal from being completed prior to its July 12 administrative hearing.

A Connecticut Superior Court Judge has reviewed a long-running legal dispute that could define the role loan officers in direct mortgage operations play in originations.

Homebuyers in Colorado, Florida and Texas can apply for a minimum $1 million loan with the company.

The state will introduce new rules in 2024, while North Carolina and Delaware have similar legislation coming into effect this summer.

The new business line offers consumer-facing digital strategies and analysis of related data that can help with customer retention.

The neobank purchased the fintech lender in an all-cash offer, but did not disclose the price tag.

The AI chatbot will be able to quickly and eloquently respond to inquiries.