Technology

Younger mortgage tech software developers reveal new efficiencies they're creating for lenders.

In an exclusive interview, the moderate Virginia Democrat and co-chair of the Community Development Financial Institution Caucus touched on the future of community development, cybersecurity and nonbank regulation. 

The businesses, like other victims of such incidents, have not identified the culprit nor type of attack.

A "Big 3" credit bureau is testing a direct data feed into a FICO score, and a top multifamily mortgage lender signed a multiyear contract with a high-profile fintech platform.

Even though a Compass Point report states the pair have validated the credit scoring model and could implement it in the first quarter of 2023, interested parties would not verify it.

The companies are the latest mortgage businesses to face class action complaints from consumers impacted by the cyberattacks.

The application process was regarded more positively, which suggests originators have been successful at improving in this area.

The government mortgage-bond insurer's technology initiative has made "huge strides" since June, when it relaunched with new flexibilities, President Alanna McCargo said.

The company, which provides "buy before you sell" and cash offer financing, cited a challenging real estate market and grim venture-capital outlook.

Cybersecurity expenses and threats