JPMorgan Chase reported a $44 million increase in mortgage-banking income during the third quarter of 2024. Twenty-five other publicly traded banks boosted their combined mortgage banking earnings by $13 million. (Includes data table.)
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The Mortgage Bankers Association hosted experts in artificial intelligence at its annual convention this week to help familiarize attendees with the opportunities AI will bring to their businesses.
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Investments in technology are helping Mr. Cooper reduce its servicing costs and allowing the industry’s largest servicer to place competitive bids on servicing portfolios.
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A new study from J.D. Power showed that mortgage servicers could better meet customer demands by implementing online chat and AI technologies into their workflows.
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Lenders, servicers and tech vendors are touting their latest products that include AI; many borrowers don’t appear to be ready to embrace AI in the mortgage process; and a handful of non-AI announcements.
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