Technology

The bank is focusing on pre-seed companies that specialize in fintech or other forms of technology and have diverse founders.

The tools are there to create a faster loan process, but fear of noncompliance and reliance on old habits still prevail, industry technology leaders said at the Fintech Nexus USA conference this week.

New products that have come to market since the start of 2023 include one that aims to ensure TRID compliance and another that handles image processing for appraisals.

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 neobank expects to turn a profit by the end of the year, but faces challenges as it copes with the government's pause on federal student loan repayment and with the difficulty of selling technology services to other businesses.

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