Rocket Mortgage: Patented AI process cuts turn times by 25%
The Detroit-based lender unveiled 'Rocket Logic' on Tuesday, an AI-fueled platform that can glean insights from 10 petabytes of proprietary data and transcripts from 50M borrower calls each year
by Matt Carter Apr 10
LoanDepot hackers had access to Social Security numbers, DOBs
Hit by lawsuits, the lender is offering 24 months of free identity protection services and credit monitoring from Experian to 16.9M consumers affected by the January cyberattack
by Matt Carter Feb 27
Ransomware group claims it was behind loanDepot cyberattack
The FBI has developed a decryption tool to combat the ALPHV/Blackcat ransomware variant, and authorities are offering $15M in rewards to stop the group
by Matt Carter Feb 21
Guild Mortgage set to acquire, rebrand Academy Mortgage
Upward of 1,000 Academy Mortgage employees will make the transition to Guild, including more than 600 originators, Guild said in announcing the 6th acquisition in 3 years
by Matt Carter Feb 13
Mr. Cooper now collects payments on $1T in mortgages amid big Q4
Investors pushed shares in the Dallas-based mortgage loan servicer to a new high on Friday as executives in a Q4 earnings call said they'll keep investing in technology that boosts efficiency
by Matt Carter Feb 12
Shares in Mr. Cooper at all-time high as servicing portfolio hits $1T
Moody's Investors Service upgrades credit rating of 'powerhouse in mortgage servicing' as it restructures some of the debt it's used to fund growth by issuing $1B in unsecured notes at 7.125%
by Matt Carter Jan 30
Personal data of 16.6M loanDepot customers exposed
The mortgage lender has restored websites that collect payments, accept loan applications and match homebuyers with partner real estate agents after Jan. 4 cyberattack
by Matt Carter Jan 24
CoreLogic fights MLS cyberthreats with Clareity Assure
Adaptive authentication is at the heart of the system, which applies at random one of many factors to verify the request for access, such as location, device status and recent online behavior
by Craig C. Rowe Jan 10
LoanDepot is latest real estate company to be targeted by hackers
Mortgage lender says unauthorized party accessed its systems and encrypted some of its data, a tactic employed by ransomware groups to target more than 1,000 companies and organizations
by Matt Carter Jan 8
Title insurer First American and many subsidiaries remain offline
The Dec. 20 cybersecurity incident has derailed closings and generated complaints about the lack of communication since the company took some systems offline
by Matt Carter Dec 26
LoanCare says data breach affected 1.3M mortgage customers
Parent company Fidelity National Financial has not said whether its other subsidiaries were also affected in a cybersecurity incident the company says it discovered and contained in November
by Matt Carter Dec 26
First American Financial warns clients to watch out for fake emails
Two days after being hit by a cyberattack, the title insurance giant says it's still trying to restore operations, warns clients that it's taken its email system offline and to be wary of messages
by Matt Carter Dec 22
Loan subservicer Dovenmuehle Mortgage laying off 212 workers
Illinois-based Dovenmuehle, which collects monthly payments from homeowners in all 50 states on behalf of lenders and investors, is trimming staff at Lake Zurich HQ but not closing down
by Matt Carter Dec 22
AsterKey makes proof-of-funds easier, more secure: Tech Review
AsterKey is a fintech app that can produce a secure, verified proof of funds letter while greatly minimizing the risk of exposure or fraud
by Craig C. Rowe Dec 22
Title insurer First American Financial is hackers' latest target
The nation's 2nd biggest title insurer issues terse statement saying it's taken some systems offline. Ransomware group Blackcat has infiltrated more than 1,000 computer networks
by Matt Carter Dec 21