Wholesale, Best Ex, Verification Tools; Cybersecurity News and The Figure Incident; Capital Markets

Here in Park City, at the annual mortgage ski trip, some of the banter is social, and some is focused on business. On the business side of things, one topic is the nearly 1 million people impacted by hackers attacking Figure Technology Solutions, a blockchain-focused fintech lender. U.S. financial institutions are increasing cybersecurity vigilance amid the escalating war with Iran, with industry leaders warning that geopolitical conflict often brings a rise in digital threats. Todd Klessman, managing director for financial services cyber and technology at SIFMA, said, "The industry remains vigilant and ready to respond to cyber threats at all times, and especially when global cybersecurity risks are heightened." While we’re on technology, the industry continues to wonder if there will be any limits on artificial intelligence (AI), and in an Insellerate webinar today at 10AM PT (1PM ET) they will discuss how top lenders are pre-positioning for refinances with AI and how to prepare for the next refi cycle without over hiring, overreacting, or missing the window. (Today’s podcast can be found here and this week’s ‘casts are sponsored by Feewise, which turns mortgage compliance from bottleneck to business accelerator. Handle all the complexities involved with establishing TRID compliant fees and disclosures, achieve sign off, and deliver packages to your consumers for review or signature. Hear an interview with Feewise’s Rob Withers on enhancing tech stacks through a disclosure manufacturing solution that works at the speed of sales.)