Technology

The majority of non-core work, such as accounting, IT and HR functions can be offloaded to a third party as a means for lenders to shave expenses.

Home lending and real estate-related businesses developed tools to answer loan officer questions, help write marketing copy, envision newly designed interiors and even correspond with consumers on a limited basis.

In a filing, the company's subservicing subsidiary Loancare said 1.3 million customers had their data compromised, while in an ongoing situation, customers of fellow title insurer First American find themselves without email or online access after a separate incident last week.

The title company was also attacked in 2019 and joins Fidelity National and Mr. Cooper among recent victims.

However, nearly a third of industry employees told National Mortgage News in a survey they're worried they'll lose their job because of the technology next year.

Both past and present customers were impacted by the data breach.

Lawyers for the plaintiff maintain the companies should have been on notice of inadequate security measures after a reported data breach in 2022.

To make amends to former and current borrowers, Mr. Cooper is footing the bill for two years of complimentary identity protection services.

Properties listed will pop up in the "nearby" tab of the app and customers can choose to navigate to the house of their choice.

The Department of Housing and Urban Development proposal, which would modernize client meetings necessary for some mortgages, is similar to an FHA move.