DailyPay, an earned wage access provider that processes $30 billion a year, has to keep an eye out for money laundering and other forms of financial crime, just as banks need to do. To do this work efficiently, the company recently began using agentic AI — autonomous systems that act as agents, leveraging large language […]
AI agents are coming for money launderers Read More »
On any given Thursday, there’s a decent enough chance that the average mortgage rate headline will be unintentionally misleading. At issue is media reliance on the longstanding weekly mortgage rate surveys. If news stories are going to cite this data, that’s fine, but it’s critical to understand the methodology. Whether it’s MBA (reported yesterday) or
Mortgage Rates Are Actually Lower This Week Read More »
A Finance of America customer has fired off a data breach class action lawsuit against the company for a hack that allegedly occurred two weeks ago. Processing Content Melanie Place filed the negligence complaint against the lender and servicer last week in a Texas federal court, based on a limited report of an incident. A
Finance of America faces early data breach class action Read More »
Rocket Mortgage and United Wholesale Mortgage waged another fight over who would be the market leader in 2025 and appear to have ended the year with a split decision. Processing Content While UWM held onto a healthy lead in terms of dollar volume, Rocket inched ahead and became No. 1 based on loan count, according
Rocket leads UWM in 2025 HMDA loan count, trails in volume Read More »
Endorsements of Home Equity Conversion Mortgages surged noticeably last month from a short February, but volumes are still showing weakness compared to second-half 2025 levels. Processing Content HECM endorsements increased 16.3% month over month in March to 2,117 loans, according to the latest data from Reverse Market Insight. While welcome news for lenders of the
March HECM bump masks a deeper slowdown Read More »
A community lenders group is pressing for more competition in GSE credit scoring and reporting, and a new report backs the push, quantifying recent price hikes and warning that more are coming. Processing Content Credit metric costs have gone from a range of $150 to $250 for a conventional loan in April 2024 to an
Mortgage credit costs jumped 10x in 4 years: CHLA Read More »
Mortgage rates have increased for five consecutive weeks, sidelining potential buyers in the middle of the spring homebuying season. Processing Content The 30-year fixed-rate mortgage hit 6.46% this week, an eight-basis-point jump from last week’s 6.38% and the highest mark since early September, according to the Freddie Mac Primary Mortgage Market Survey. The 30-year rate
Mortgage rates hit a 7-month high, as buyers retreat Read More »
An Illinois lender and its father-son executive team must pay some of their former loan officers over a million dollars in damages for wage claims, a federal judge has ruled. Processing Content A jury last year found Smart Mortgage Centers owner and president Richard Birk liable for federal wage claims against five LOs, after the
Father-son lender duo owes ex-LOs $1M in back wages Read More »
Be honest. Have you started looking at homes online yet? If you have, it’s already time to get pre-approved. Because here’s what not enough people know. If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – you don’t want to wait until
Before You Fall in Love with a House, Do This First. Read More »
Lamacchia Realty has acquired Weichert Realtors – Briotti Group, expanding its Connecticut presence with new offices in Waterbury and Wolcott, the company announced Wednesday. The deal brings broker-owner Stephen Briotti and 24 agents under the Lamacchia banner as the firm continues an acquisition-driven growth strategy across New England. Financial terms of the deal were not
Lamacchia Realty acquires Weichert Realtors – Briotti Group Read More »