Companies can now run collateral analysis and cashflow projections in their own AI environments, using systems including Claude and ChatGPT.
The 306 loans are primarily first-lien, small balance business loans secured by commercial real estate properties, and other collateral related to the mortgage property.
The REIT accused the wholesale leader of hiding its massive market gamble during the negotiations, which resulted in $741 million in losses.
The Federal Reserve is restructuring bank supervision into five regions, following state lines, and putting one regional leader in charge. It's also planning to revise regulatory thresholds so that banks will need to be bigger before tougher standards kick in.
While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
Fitch Ratings, noting the reduction in Wells Fargo's balances and sale of non-agency servicing, said the bank no longer meets expectations at its old grade.
