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 […]
Bank of America’s Moynihan touts ‘good economics’ of AI Read More »
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
Budget for 6.3% rates through 2027, Fannie Mae warns Read More »
Foreclosure inquiries increased for a third consecutive quarter and hit their highest level since March 2020, a new LegalShield report found. Processing Content Its foreclosure index rose 12.2% year over year and 5.6% quarter over quarter to 52.5 in the second quarter this year. The index, a one- to two-quarter leading indicator of actual residential
Foreclosure calls surge as FHA relief programs expire Read More »