Rate-and-term refinances dropped sharply in the short run but the overall number's comparison to a year ago is a different story, according to Optimal Blue.

The changes put out by Fannie Mae and Freddie Mac make it clear the Nov. 2 date applies to valuation submissions to the UCDP, not when the loan is delivered.

Alongside its cloud-based brokerage, the company said the acquisition will transform eXp's existing infrastructure into a multi-model platform.

The real estate technology company reduced its workforce and consolidated select vendor relationships. These moves will save the company roughly $2 million.

The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.

A rule change requiring trial modifications before other loss-mitigation options is creating workflow and liquidity challenges, especially for smaller servicers without deep resources.

In addition to 10 new AI agents for financial services, the company announced partnerships with software and data providers FIS, Microsoft, Verisk, Third Bridge, Fiscal AI, D&B, Experian, GLG, Guidepoint and IBISWorld.

Credibly will bring its SMB loans and revenue-based financing products to Figure's Democratized Prime platform, Figure said in a press release.

More than three-quarters of brokers are using popular AI platforms, but application of lender-specific software lags considerably, according to AD Mortgage.

The technology firm posted annual gains in servicing, origination and closing solutions, although the segment at large posted an operating loss.

One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale.

Jonathan Corr, the former CEO of Ellie Mae, is one of six new members of MeridianLink's board, added following its acquisition by Centerbridge Partners.

Newrez expects significant expense reductions from AI partnerships with HomeVision and Valon, as executives rule out mergers and a Rithm spinoff amid strong Q1 earnings.

True Footage claims a startup founder signed up for its products using false MLS credentials and used large language models to copy its software.

There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.

United Wholesale Mortgage is one of multiple home lending partners Dan Sogorka and Mike Fawaz's new company plans to bring on board.

Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.

M&A, complementary to widespread artificial intelligence implementation, is also high on the list of upcoming priorities for new Dark Matter CEO Vikas Rao.