The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.

A multiyear agreement will enable Mphasis to use AWS platforms for modeling industry-use cases, especially concerning data extraction and document processing.

The move advances the Biden administration's interest in testing whether skipping a title insurance policy or an alternative for some mortgages would be a cost-saver.

His last day at Rocket will be on April 19, and the company said it is "well into its search" for its next technology leader.

Figure claims its lien and eNote registry is a "streamlined and markedly efficient alternative to manual assignments and conventional loan tracking databases."

The newly launched Rocket Logic platform can pull and analyze documents instantly, helping to shrink closing times by about 25%, the lender claims.

Tracy Stephan's appointment to the new role is in line with broader federal directives follows other changes in staffing in the Office of Financial Technology.

The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.

After gaining access to On Q systems via vendor software, unknown parties were able to obtain and remove client personal information, including Social Security numbers.

Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.