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.

Interplay between debt ceiling and mortgage interest rates; mortgage employment declines; rate locks down; Rithm considers spin-off; Planet Financial looking for lenders; new LO recruiting software; Blend’s market share grows; Black Knight’s margins; new appraisal marketplace; MISMO requests for comment.

Technology and mortgage industry experts will team up to develop solutions to improve the digital mortgage experience, reduce costs and improve access to mortgage finance.

Profitability outlook; Fitch downgrades Home Point’s corporate ratings; UWM aims to limit trigger leads; New American Funding looking for joint ventures; new initiatives at MISMO.

While there is potential in the alternative data space to promote fair housing outcomes, the new methods come with their own concurrent risks, according to industry experts.

The data analytics firm said its web-based appraisal tool Validate will help streamline the valuation process by removing obstacles caused by traditional in-person appraisals.