All lenders experiencing system breaches must report the incidents within 12 hours of detection, the administration announced.

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 hack that occurred in December affected 27,746 mortgage customers, the South Carolina-based lender said.

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

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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.

Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.

Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.

While the company made headway in reducing operational costs, it incurred several million dollars worth of expenses as it dealt with the January incident.

Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.

New notices pointed out how large learning models could lead real estate businesses to unintentionally violate the Fair Housing Act in a marketing campaign.

But the mortgage unit of Intercontinental Exchange narrowed its quarterly losses and touted the addition of several new customers this year in its earnings call.

A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.

Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.

Rep. French Hill, the No. 2 Republican on the House Financial Services Committee, promised bankers Tuesday that he will continue to push back against Biden administration regulators, especially on bank-fintech partnerships and digital assets.

AI is eliminating some of the day-to-day drudgery of a mortgage professional, giving them space to create more success in their career.