Technology

Feds arrest dozens in sweeping action against hackers targeting wire transfers

Including those targeting real estate transactions
The federal government announced Monday that it conducted a massive sweep and arrested nearly 75 people who allegedly participated in schemes designed to intercept and hijack wire transfers from businesses and individuals, including those involving real estate transactions. The operation also resulted in the seizure of nearly $2.4 million, and the disruption and recovery of approximately $14 million in fraudulent wire transfers.
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Finastra announces integration with Optimal Blue

Fintech company integrates Optimal Blue APIs into mortgage origination solutions
Finastra announced it will integrate Optimal Blue's REST APIs into its mortgage origination solutions, providing clients real-time access to compliant product and pricing content throughout the company's Fusion Mortgagebot solutions. The company explained the integration enables its bank and credit union clients to provide mortgage applicants with Optimal Blue’s live pricing searches via any point-of-sale channel.
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Can cryptocurrencies change real estate transactions?

Industry pros are looking for ways to include cryptocurrencies in their transactions
As the cryptocurrency craze shows no sign of slowing down, there is an increase of real estate professionals using cryptocurrencies in real estate transactions. One of the newcomers is Engelo Rumora, who recently explained how he closed a real estate deal that used a cryptocurrency as a down payment.
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ARMCO hires new chief strategy officer

Nick Volpe will increase market share for financial software products
Nick Volpe signed on as chief strategy officer at ACES Risk Management. In his new role with the company, he will be angling for increase market share and industry recognition of its financial risk mitigation software tools.
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Direct homebuyer FlyHomes raises $17 million, plans expansion into mortgages

Funding round led by prominent Silicon Valley venture capital firm Andreessen Horowitz
There’s a growing player in the burgeoning direct homebuying segment that now boasts the backing of one of Silicon Valley’s top venture capital firms. Seattle-based FlyHomes recently announced that it raised $17 million in its Series A funding round, which was led by Andreessen Horowitz, which previously invested in Facebook, Airbnb, Foursquare, Skype, Twitter, and others.
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Amazon rumored to begin offering home insurance

Could use AI to offer cheaper premiums
A new report reveals Amazon could soon be offering its customers home insurance by using its robots and other home devices. Sources explain the company could use artificial intelligence to get consumers better rates. Here’s how.
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Alexa, get me a mortgage

Are we already there?
Artificial intelligence has pushed technological advancements to a whole new level, and increasingly can do just as many things as humans. But how far out is the mortgage industry really from using the kind of technology available to consumers in other industries? It may already be here.
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