LoanSnap, an AI-powered mortgage startup, has had its license to operate revoked in Connecticut, according to the state’s Banking Commissioner. This occurred after LoanSnap violated a consent order it had entered into with the Department of Banking in May. The department revealed Tuesday that its consumer credit division opened an investigation that found multiple violations […]
Former Brex COO who now heads unicorn fintech Figure says GPT is already upending the mortgage industry
Lending startup Figure announced today a rollout of AI tooling to make the home lending process more efficient. The company will be launching an AI tool powered by GPT-4 to help catch errors in lending documents. Figure, founded in 2018, specializes in helping consumers secure home equity lines of credit. The company touts that its […]
Redfin CEO promises to ‘drink our own urine’ if mortgage rates don’t fall
He really said that: When asked about the company’s “Plan B” if mortgage rates don’t fall, Redfin CEO Glenn Kelman responded, “Plan B is to drink our own urine or our competitors’ blood, stay in the foxhole.” This wasn’t at some informal, off-the-record gathering. It was on Redfin’s second quarter earnings call, the kind of […]
Lending Platform Ledn Launching Bitcoin-Backed Mortgage Product, Raises $70 Million
Global digital asset savings and credit platform Ledn has announced the upcoming launch of a bitcoin-backed mortgage product, calling it “the first product of its kind to hit the market.” The company has also raised $ 70 million, which brings its valuation to $ 540 million. Bitcoin-Backed Mortgage — ‘The First Product of Its Kind […]