VantageScore is gaining traction as an alternative to FICO credit scores in consumer lending and structured finance, according to a study by DBRS. Introduced in 2006 as a joint venture among three national credit bureaus – TransUnion, Experian and Equifax – VantageScore was first used in securitization transactions backed by student-loan refinancings. Its transition to consumer loans and structured finance demonstrates industry acceptance as an alternative to the widely used FICO scores, DBRS pointed out. The study compares...
The Federal Housing Finance Agency wants to know how Fannie Mae, Freddie Mac and the Federal Home Loan Banks can better help borrowers with limited English proficiency (LEP) throughout the entire mortgage cycle, from lending to servicing. With the numbers of individuals not able to speak English fluently growing in the U.S., the FHFA wants to learn more about some of the procedures and tools that originators, servicers, and other parties in the mortgage lending process currently use to help LEP borrowers. To better understand the challenges, the FHFA issued...
Commenting on the latest revelation from Walter, Keefe, Bruyette & Woods said, “Given the lack of visibility, we maintain our underperform rating and $1 price target.”
In the lawsuit, Ocwen admitted that it had stopped paying some of the invoices sent to it by FIS because of what it called “improper and non-compliant billing practices…
“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.
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