Artificial intelligence technology is creating new risks for mortgage lenders, according to experts speaking at a recent Mortgage Bankers Association conference.

While AI is offering the mortgage industry many benefits, industry experts caution that it’s also posing new risks, including falsified documents, inaccurate credit decisions and potential disruptions to servicing records.

Mortgage Bankers Association CEO and President Bob Broeksmit outlined various options that could improve affordability.

AI is allowing fraudsters to more easily create convincing documents, communications and images.

A New York appellate court upheld a ruling that deferred mortgage loan principal payments under a crisis-era loan-modification program should be treated as subsequent recoveries.

The lawsuit challenged a New York law that prevents servicers from manipulating the six-year statute of limitations to restart or prolong fore-closure actions.

Industry attorneys outlined compliance scenarios tied to joint ventures, marketing service agreements and employee arrangements.

Settlement service companies must demonstrate that the goods and services are actual, necessary and distinct, and that payment is commensurate with the value of services and goods.

Ahead of the vote, Sen. Elizabeth Warren, D-MA, ranking member of the banking committee, released Johnson’s responses to her Questions for the Record following his nomination hearing in July.

The House Financial Services Committee also advanced a bill aimed at reforming the CFPB’s civil investigative demand process.