Author name: Ricky Vasquez

After recently touting the cost savings it expects artificial intelligence to deliver, mortgage lender Newrez announced the launch of an AI-backed borrower-assistance tool within ChatGPT.  Processing Content Dubbed Rezi Mortgage Assistant, the lender’s large language-model guide sits squarely within OpenAI’s generative chatbot platform. Output from the assistant is based on Newrez’s internal underwriting guidelines and […]

Mortgage activity increased last week, despite rates jumping to their highest point in nearly a month. Processing Content The Mortgage Bankers Association’s Market Composite Index found mortgage applications rose 1.7% on a seasonally-adjusted basis from one week prior for the period ending May 8. The index climbed 2% on an unadjusted basis. This comes after

The Two Harbors board of directors has rejected the updated hostile bid UWM Holdings made for the company, despite being 50 cents more per share than CrossCountry Mortgage is paying. Processing Content UWM’s latest offer of $12.50 does not constitute a “company superior offer,” the Two Harbors press release said. The rejection notice said the