Trade groups representing smaller lenders called on the Trump administration to prompt the GSEs to increase their holdings of MBS as a way to reduce mortgage rates.
The new option allows tri-merge resellers to calculate and deliver FICO scores directly to customers, bypassing the big credit bureaus. Experian countered with a move involving VantageScore 4.0.
Pulte suggests no end to conservatorship, but that doesn’t stop the debate about how an exit would work and what the government should do with its windfall.
Just one week after VantageScore 4.0 credit score was allowed for underwriting GSE-eligible loans, competitor FICO released data appearing to show that FICO 10 T has superior predictive capabilities.
FHFA said lenders can now use VantageScore 4.0 when underwriting GSE loans. It’s not clear, though, if the mortgage industry is ready to take advantage of the opportunity.
The trade group’s call comes weeks after the CFPB hinted it may look to rescind its loan originator compensation rule.The trade association's new white paper comes weeks after the CFPB hinted it may look to rescind the LO Comp rule altogether.
Changes to Common Securitization Solutions, including being renamed U.S. Financial Technology, appear to set the company up to serve additional secondary mortgage market participants.
Industry insiders push the National Directory of New Hires as an alternative to a current process involving the IRS as a way to verify income and employment while expanding the digitization of the mortgage process.