Investments in customer service can help both borrowers and servicers, according to industry participants. Servicers are using AI and other tech to help borrowers and potentially generate recapture business.

Lock-in persists; eClosing found to provide pricing gains; home sales expected to increase; LOs shy away from AI; credit card offers rewards points for mortgage payments; steady profits for LendingTree from lead business.

Among LOs that knowingly use AI, the most cited use was for marketing efforts.

Officials at the nonbank said they’re “managing towards profitability in the midterm.”

There was little movement in applications for purchase mortgages or refinances last week.

The wholesale royalty cost for a FICO credit score for mortgage originations will increase by 41% in 2025 to $4.95.

Laura Escobar, 2025 chair of the MBA and president of Lennar Mortgage, encouraged MBA members to become more comfortable incorporating AI into their businesses.

A decline in interest rates and more housing inventory helped to increase pending home sales in September.

Chimera will pay $30 million upfront for Palisades Group and an earnout of up to $20 million.

PNC's margin on mortgage production declined from 1.96% in the second quarter of 2024 to 1.45% in the third quarter.