Technology

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 announcement, made at the Mortgage Bankers Association's Secondary and Capital Markets Conference, underscores Ginnie Mae's role at the forefront of digitization efforts in the capital markets space.

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

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.

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.