In a Truth Social post, President Trump said Pulte will serve simultaneously as FHFA director and acting director of National Intelligence, overseeing national security matters conducted by 18 federal intelligence agencies.
The lawsuit filed by consumer advocacy groups contended that the new ECOA rule is a drastic turn from decades of interpretation and enforcement of the statute.
The lawsuit alleged that Rocket funneled leads to real estate agents who in turn steered clients to Rocket Mortgage. Plaintiffs also alleged that Rocket acquired Redfin to bring its steering practices “in house.”
Pending changes to disparate-impact liability enforcement will have a big effect on some industries, such as indirect auto finance, but the mortgage industry will likely be spared.
While alternative data can be used as a tool to expand credit access to unscored consumers, some industry experts cautioned lenders about turning away from the traditional credit reporting ecosystem.
HMDA compliance AI tool launched; law firm offers mortgage AI audit practice; federal court approves $110 million settlement involving Wells Fargo; NYDFS reinforces disparate-impact liability.
Four of the 11 regional Federal Home Loan Banks saw double-digit declines in net income in the first quarter, even though total assets grew for the period. (Includes three data tables.)
A new Milliman study finds that FICO 10T is more predictive of default risk across the full range of credit scores. VantageScore said the study is full of “statistical swindles.”