Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.

Generative AI solutions, such as ChatGPT, are expected to gain in popularity among mortgage professionals this year.

Clever Real Estate has acquired Gravy Technologies, which provides a loyalty-as-a-service platform for lenders and real estate agents.

While originations are expected to increase this year, margins might not improve much; First American back online following cyberattack; MSR demand expected to remain strong; held-to-maturity accounting lives on; new digital servicing platform; new buydown program.

Amendments to the Uniform Commercial Code are making it easier to electronically originate home equity lines of credit.

Lower interest rates have been particularly impactful in the market for new homes; MBA projects a mild recession in the first half of 2024; new MISMO working group initiated by the GSEs; technology for closing disclosure forms.

Amazon Web Services is increasing its offerings designed to automate and digitize the mortgage process.

Blend paid down a portion of a term loan and extended the loan; Capital City Bank faces material weakness in internal controls; Associated Bank adjusts portfolio lending strategy; First American fined for cybersecurity breach; MISMO launches eVault standards; new tech platform for brokers.

The Mortgage Bankers Association responded to a White House request for information on the prospects for harmonizing cybersecurity regulations. Separately, the New York Department of Financial Services finalized amendments to its cybersecurity regulation.

An increase in the number of borrowers with non-traditional income sources has led more lenders to consider automated and AI-based underwriting practices, according to Ocrolus, a tech vendor.