Following the disclosure of a mid-June data breach, Optimum First Mortgage now faces a proposed consumer class action lawsuit. Processing Content In documents filed this week, Optimum First customer Diane Adams said she seeks to represent a class of consumers who suffered harm from alleged negligence and unjust enrichment on the part of the Southern […]
Optimum First hit with class action after recent data breach Read More »
The recent AI spending and investing boom has helped prop up the global economy amid the strains caused by high interest rates, the Iran war and tariffs, the Bank of International Settlements said in a report published Sunday. But if left unchecked, the increasing deployment of AI could also cause the next major economic collapse,
AI boom could cause the next economic crash, BIS warns Read More »
Increased volume in non-qualified mortgage securitization activity is being supported by the growth of “fumbo” loans — fake jumbo mortgages — this week’s report from Bank of America Securities said. Processing Content The non-agency portion of the report said non-QM production is on track to have its most volume since the Great Financial Crisis. The
Non-QM issuance on record pace, helped by ‘fumbo’ mortgages Read More »