A minority shareholder at LoanDepot has called for the company to rethink its management and consider courting acquirers, citing concerns around a long period in which it has traded just above $1 per share. Processing Content Randian Capital also specifically recommended a new approach to the company’s mortgage servicing rights portfolio, which the company reported […]

Artificial intelligence was a theme of Bank of America’s second-quarter earnings call, with executives attributing revenue and efficiency improvements to the technology. Processing Content CEO Brian Moynihan said employees are generating more than 400,000 prompts a day and the bank has approved more than 300 AI use cases, “all of which have good economics.” AI

Fannie Mae continues to downgrade its mortgage forecasts as it foresees a higher-for-longer mortgage rate environment. Processing Content The government-sponsored enterprise reduced its estimate for single-family originations this year by 2%, to $2.298 trillion, according to its Wednesday release. While the projection is still well ahead of last year’s over $1.9 trillion in total single-family