Tidalwave, an agentic AI mortgage technology startup integrated with Fannie Mae and Freddie Mac, recently announced the hiring of Jason Cao as chief operating officer. Cao, an early investor in Tidalwave two years ago, was most recently COO at CertiK, where he helped build it into a unicorn as the world’s largest blockchain security company. […]
Jason Cao joins Tidalwave as COO Read More »
Bill Ackman, the billionaire founder of Pershing Square Capital Management, proposed on Tuesday a three-step plan for Fannie Mae and Freddie Mac that could still be completed this year, while labeling a stock offering as “not feasible.” Ackman’s plan begins with an agreement letter between the U.S. Department of the Treasury and the Federal Housing
Ackman proposes three-step plan for Fannie Mae and Freddie Mac Read More »
With economic data being the most consistent source of motivation for rates, the market has been eager for it to return with the reopening of the government. While some higher profile reports have been rescheduled for the coming days (i.e. on Thursday, we’ll get the jobs report that we were supposed to get in early
Mortgage Rates Hold Steady Yet Again as Data Returns Read More »
Supporting data: Cloudflare dominates the “internet plumbing” sector with an estimated 82% market share for reverse proxy services, meaning a single glitch can ripple through global commerce. What’s at stake: The disruption reignites concerns detailed by the Treasury Department regarding the financial sector’s dangerous over-reliance on a small concentration of cloud service providers. Forward look:
Cloudflare disruption hit SoFi, Varo, other banks Read More »
Hedge fund manager, billionaire and legacy government-sponsored enterprise investor Bill Ackman is pushing his plan for Fannie Mae and Freddie Mac in response to officials’ call for input. Ackman, who previously has suggested that the GSEs be merged, backed off that concept in a live broadcast and subsequent Q&A in an X space Tuesday morning
What Bill Ackman thinks should happen to the GSEs Read More »
Intuit and OpenAI announced a multi-year partnership Tuesday, marking another stride in the financial sector’s push toward widespread adoption of AI. Under the agreement, Intuit-powered apps, such as Intuit TurboTax, Credit Karma, QuickBooks and Mailchimp, will be in ChatGPT, allowing users to take financial actions directly through the AI chatbot. With knowledge of their financial
OpenAI–Intuit deal brings financial actions to ChatGPT Read More »
Fraud and forgery attempts that appear in refinance transactions are turning out to be a rising risk factor leading to claims that end up costing title insurers hundreds of thousands of dollars. Claims resulting from fraud or forgery now average $206,976, according to research conducted by the American Land Title Association and consulting and actuarial
Forgery, fraud make up 40% of title insurance losses Read More »
Independent mortgage bankers reported a second consecutive quarter of profits on their loan production, helped by the September rate drop and surge in application volume, the Mortgage Bankers Association said. Between originations and servicing income, roughly 85% of the 325 companies which participated in the Quarterly Mortgage Bankers Performance Report were profitable. “After a series
Loan profits improve for IMBs in 3Q Read More »
Initial applications for US jobless benefits totaled 232,000 in the week ended Oct. 18, according to the Labor Department website showing historical data for claims. Continuing claims, a proxy for the number of people receiving benefits, came in at 1.957 million, up slightly from 1.947 million in the prior week. For initial claims, weekly data for the
US jobless claims totaled 232,000 in week ended Oct. 18 Read More »
US homebuilders’ confidence barely rose this month as they struggled to lure cautious buyers off the sidelines with costly sales incentives. An index of market conditions from the National Association of Home Builders and Wells Fargo ticked up 1 point in November to 38. A value below 50 means more builders see conditions as poor
US homebuilder sentiment barely rises despite price cuts Read More »