Jay Promisco, president at Sierra Pacific Mortgage, said agentic AI can be used to manage the entire loan process.

The planned IPO will help Figure expand into other markets.

“Ultimately the goal is to continue to find ways to do more at a lower cost,” said one large unidentified lender surveyed by Fannie.

Anthony Hsieh, the founder of loanDepot who recently returned as CEO of the company, stressed that the nonbank is working on “profitable market share growth fueled by technology innovations.”

United Wholesale Mortgage has all of its servicing with one subservicer as the nonbank builds an in-house servicing operation.

"The challenge is getting the requisite understanding of risk, providing the governance infrastructure and really creating the level of transparency and understanding that allow for a less sophisticated lender to adopt this technology," said John Levonick, a senior partner at the law firm of Garris Horn.

FHFA created U.S. Financial Technology, a company that will take over Common Securitization Solutions.

“Borrowers should find comfort in the stability of mortgage rates,” said Sam Khater, chief economist at Freddie Mac.

Sales of new single-family homes declined by 13.7% on a monthly basis in May.

Legislation to limit trigger leads passed the House and Senate with minor differences.