One reason companies should formally adopt generative AI is that three-quarters of employees say they already use ChatGPT or one of its competitors in the workplace.

Defects related to liabilities on student loans, income/employment verification and the appraisal process topped the list of items Fannie warns lenders to keep alert for.

Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.

A Michigan appeals court judge affirmed that UWM’s move to compel arbitration in a dispute with a former employee was seven months too late.

Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.

Executives at Kind Lending and Paramount Residential Mortgage Group said lenders need to boost staffing levels to be prepared for increased originations this year.

Lenders cut more staff; rate locks up 14% in January; borrowers have plenty of equity; bill to limit trigger leads in House; LoanCare revamps servicing website; Staircase launches ChatMTG.

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.

NMSI lost an appeal of a lawsuit brought by two former employees regarding compensation. The dispute centered on whether email correspondence was sufficient to modify an employment contract.

Maintaining internal policies and documenting employees’ work practices are vital to effectively managing the return-to-office transition, according to industry participants.