Artificial intelligence can cut down on “stare and compare” tasks. But mortgage originations are so complex, and anxiety-provoking for borrowers, that humans are essential.

Home prices expected to decline; FTC hearing on ICE/Black Knight delayed; legal services for AI usage; MISMO updates; accounting proposal on acquired assets.

Mortgage companies across the spectrum are looking for ways to reduce expenses. Automation and artificial intelligence might be a solution.

Market share among top fintechs has been growing faster than that of top non-fintech nonbanks.

CrossCountry, Guild offering downpayment assistance; majority of loan originators living paycheck to paycheck; legislation would limit trigger lead activity; and more.

Technology vendors tout the potential of automation in the non-QM space while warning that AI still has a way to go.

Rate locks decline; MISMO launches latest reference model; CFPB warns on the use of chatbots; Chase to pay mortgage seekers to shop with the bank; mortgage market losing share to cash buyers; data breaches lead to increase in denial of mortgage credit.

Rocket, UWM offer low-downpayment products; CFPB finds sharp differences in loan pricing; servicing profits improve; timing for recession unclear; quantifying the refi boom; Freddie improves paystub analysis; Blend offers soft credit pulls; MISMO seeks comments on closing standards; Maxwell acquires capital markets provider; fractional homeownership.

The nonbank plans to use artificial intelligence in an effort to sharply reduce expenses from its call center operations.

Tightening of lending standards by banks in the wake of elevated interest rates has created an opportunity for nonbanks to increase their share of the home-equity lending market.