April’s falling mortgage rates led to a spike in home sales last month, but resurging rates quickly dampened that momentum, an industry report found. Processing Content Total home sales rose 3.8% month over month in May to 308,446. That’s the highest level since October 2022, driven by a 2.8% jump in existing-home sales, which also […]
Home sales hit highest level since October 2022 Read More »
Following revelations last month of a data breach affecting both consumers and employees, Plaza Home Mortgage is already facing at least two potential class action lawsuits. Processing Content Plaintiffs in two separate cases filed their claims in California Southern District court last week after the San Diego-based wholesale and correspondent lender initially sent out notices
Plaza Home Mortgage facing class actions after data breach Read More »
Key insight: Bank of America’s CEO is emphasizing accuracy of AI models, where others focus largely on efficiency and cost savings. What’s at stake: If a large bank’s AI model is allowed to make errors in code, operations or customer service, the result could be catastrophic. Forward look: Expect more banks to invest in data
‘The data has to be perfect’: BofA CEO Moynihan on AI Read More »