The new tool, dubbed Araya, utilizes data available in several of the technology firm's lines of business, including its climate risk division.

Papanii Okai will fill a newly created position of executive vice president of product engineering at Rocket Mortgage.

Jay Venkateswaran, business unit head of banking and financial services at WNS Global Services, said the best lenders are preparing now for expectations of increased business at least two quarters in the future.

The administration wants to implement a 36 hour window of time for companies to report a cyber incident to the agency.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

The Bay Area lender said an unauthorized party was in its servers for over five weeks this spring.

The mega wholesale lenders ChatUWM bot will now be able to sift through PDF documents, calculate borrower income and upload loans to UWM's application system.

Figure Technology Solutions introduces a gen AI-powered tool dubbed the "stare and compare killer" which aims to help with document reviews.

Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.

The National Community Reinvestment Coalition and four fintechs want the agencies to act on the White House's executive order on artificial intelligence.

The changes will help servicers expedite submission of necessary forms needed in credit reporting disputes.

Sen. Edward Markey warns that biased AI algorithms are making decisions that deny mortgages to Black people. 

Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.

Using AI inferences to sensitive questions based on limited data within the mortgage industry could easily result in fair servicing violations if they, for example, prompted repeated outreach attempts to borrowers based on protected characteristics, writes the

The addition of the software under its brand will help the company better serve smaller lenders as it seeks market share, company leaders said in an interview with National Mortgage News.

Ally customers are blaming the bank for data breaches at its vendors, arguing that basic cybersecurity measures would have prevented the thefts.

As home prices rise, leading to larger transaction amounts, Certifid doubled the amount of wire fraud insurance coverage provided for transfers it vets.

The winner wowed judges with a natural-sounding artificial intelligence tool that also explained its decision-making on the back-end.

Tim Ryan, who joined the megabank in June, will work with COO Anand Selva to oversee enhancements to Citigroup's data integrity systems, according to a memo.

The lynchpin to this is what Rocket management calls its "Super Stack" artificial intelligence technology.