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 »
Select Portfolio Servicing has resolved allegations that it violated state and federal rules aimed at protecting borrowers from foreclosure during the pandemic. Processing Content SPS, which an investor consortium bought from UBS in a deal that closed last year, agreed to pay $4.6 million to settle the legacy charges with California Attorney General Rob Bonta.
Select Portfolio Servicing settles with California AG Read More »
Two Harbors Investment, temporarily free of a non-solicitation clause in its agreement with CrossCountry Mortgage, is now willing to engage with UWM Holdings, but only if the latter drops the stock portion of its bid. Processing Content CrossCountry has agreed to waive the non-solicitation clause through the close of business on Friday, June 12, Two
UWM gets one more shot at Two Harbors, but as a cash deal only Read More »