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Industry News

Newrez rolls out AI consumer-facing guide in ChatGPT

Artificial Intelligence, Industry News, Mortgage technology, Originations /

After recently touting the cost savings it expects artificial intelligence to deliver, mortgage lender Newrez announced the launch of an AI-backed borrower-assistance tool within ChatGPT.  Processing Content Dubbed Rezi Mortgage Assistant, the lender’s large language-model guide sits squarely within OpenAI’s generative chatbot platform. Output from the assistant is based on Newrez’s internal underwriting guidelines and […]

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Figure drops hints of future mortgage product

Earnings, Industry News, LOAN PRODUCTS, Mortgage technology, Originations /

Figure Technology Solutions reported a profitable start to 2026, driven by new partnerships on its blockchain-backed loan and capital marketplace, and signaled a potential future mortgage offering. Processing Content The New York-based fintech reported net income of $45 million in the first quarter, almost tripling its gain from $15.1 million three months earlier. The latest

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Why banks are betting on mortgages again

Consumer banking, Industry News, Mortgages, Originations, Regulation and compliance /

Frost Bank’s mortgage unit generated $595 million in outstanding loans in 2025, surpassing what its leaders had initially expected when the San Antonio-based bank re-entered home lending two years earlier.  Processing Content “If you look at why we exited, we just weren’t able to deliver that product in a relationship way that we did everything

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FTC warns Mortgage Connect over noncompete agreements

FTC, Industry News, Law and legal issues, Regulation and compliance /

The chairman of the Federal Trade Commission sent a warning letter Friday to national mortgage services provider Mortgage Connect over employee contracts. Processing Content Andrew Ferguson, who has served as the agency’s commissioner since April 2024, urged the company to review its employment contracts, including any noncompete agreements or other restrictive covenants, to ensure they

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NMLS address policy change and pain points with changes

Industry News, Politics and policy /

The Nationwide Multistate Licensing System received an update last month to better reflect a policy change and address pain points. Processing Content NMLS, which provides services to 600,000 users across the financial services industry, made changes to disclosure questions and the employment history reporting process on April 18, the Conference of State Bank Supervisors announced

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Title agent accused of rebranding to evade fraud penalty

First American Financial Corp., Industry News, Law and legal issues, Title insurance /

First American Title Insurance Co. is suing a former agent to recover sums owed after her firm erroneously wired funds, claiming she changed her business’ name to evade more than $600,000 in penalties. Processing Content In a lawsuit filed in Eastern District Court of New York, First American accused Patricia Stein-Oliva, principal of Consumer Direct

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eXp expands platform with acquisition of NextHome

Industry News, M&A, Mortgage technology /

eXp World Holdings, the parent company of eXp Realty, FrameVR.io and Success Enterprise, has acquired real estate franchise NextHome, it announced in a press release Thursday. Financial details of the transaction were not disclosed. Processing Content The company will also trade under the new ticker symbol AGNT on the Nasdaq Global Market starting Friday. “The

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Trump signs bill to expedite tribal mortgage lending

Industry News, Originations, Politics and policy, Trump administration /

President Trump signed new legislation this week aimed to facilitate mortgage lending and open up homeownership to members of Native American communities across the U.S. Processing Content Sponsored by members of South Dakota’s congressional delegation, the Tribal Trust Land Homeownership Act sets new timelines for the review and processing of mortgage applications involving properties on

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ReAlpha lays off 25% of employees, cites AI

Artificial Intelligence, Industry News, Layoffs /

ReAlpha Tech Corp. is conducting layoffs claiming artificial intelligence is reducing the need for some employees. Processing Content The real estate technology company reduced its workforce, which includes full-time employees, consultants, temporary workers and independent contractors, by about 25% and consolidated select vendor relationships. Together, these moves will save the company roughly $2 million over

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Iran conflict sours real estate investor sentiment to 3-year low

Housing markets, Industry News, Investments, Real estate investments /

Real estate investor sentiment fell to its lowest level in at least three years in the first quarter, in large part due to the Iran war, a new report found. Processing Content The RCN Capital/CJ Patrick Investor Sentiment Index dropped 14 basis points to 87 last quarter, the lowest score recorded in the 11-quarter history

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