"[ChatGPT] could provide quick, accurate responses to clients so that loan officers, real estate agents and recruiters can spend more time building relationships and closing more deals," said Marvin Bantugan, chief technology officer of Zventus and co-chair of the Hyperledger mortgage subgroup.

Generative AI solutions, such as ChatGPT, are expected to gain in popularity among mortgage professionals this year.

Clever Real Estate has acquired Gravy Technologies, which provides a loyalty-as-a-service platform for lenders and real estate agents.

Hybrid work environments are expected to put pressure on CMBS loans for office properties over the next two years and lead to a growing number of properties failing to refinance.

A new IRS private letter ruling outlined a case where exchange bond certificates from a REMIC or grantor trust would be considered a stripped bond under tax policy.

A mortgage borrower lost an appeal of a district court decision that he lied to a servicer and to the FDIC about the amount of debt he owed.

Expanded-credit MBS volume was down 27.2% on an annual basis and prime volume fell by 62.9%.

The non-QM market will see outsized growth in 2024, according to industry participants.

A decline in expanded-credit MBS activity led to an overall drop in non-agency MBS issuance in the fourth quarter of 2023, while prime non-agency MBS rebounded to close out the year.

Non-QM lenders forecast growing origination volumes and a need for more staff to handle increased production.