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Home » Topics » IMFnews » Regulatory

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Shift to Bi-Merge Score Model Might Not Be Dramatic

September 13, 2023
Dennis Hollier
Kroll Bond Rating Agency looked at about 220,000 loans to more than 300,000 borrowers to assess the impact of going from tri-merge credit scoring to bi-merge.
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Short Takes: Refi Demand Down / MIAC Settles With SEC / Fannie Selling Reperforming Loans / Goldman’s Stake in Better / Lender M&A

September 13, 2023
Brandon Ivey and Paul Muolo
Demand for refis fell to a level seen at the beginning of the year...
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FHFA Extends Timeline for GSE Credit Scoring Change

September 12, 2023
Brandon Ivey
The shift from a tri-merge credit report process to a bi-merge standard will take longer than initially planned.
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Short Takes: Chopra Concerned About CFPB’s Future / MSRs for Sale / AI Summit / PacWest’s CRT Upgraded

September 12, 2023
Brandon Ivey and Paul Muolo
Uncertainty for the CFPB and the mortgage industry ahead of a Supreme Court case...
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Credit Repair Firms Touting Mortgage Offerings Settle With CFPB

September 7, 2023
Sam Manas
One of Progrexion Marketing’s affiliates falsely advertised that it “guarantee[d] anyone a 0% to 3.5% down home loan no matter how bad their credit is when we start!”
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Ishbia: FHFA Will Have to Get Involved on GSE Buybacks

September 6, 2023
Brandon Ivey
“FHFA is going to have to step in again, because it’s becoming a big issue,” said Mat Ishbia, president and CEO of United Wholesale Mortgage.
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Mixed Feelings on CFPB Oversight of Data Brokers

September 6, 2023
Sam Manas
Expanding the Fair Credit Reporting Act’s dispute and accuracy requirements to a broadened definition of credit reporting agency could lead some industries to stop reporting or furnishing consumer credit data, according to Dan Smith, newly appointed president and CEO of the Consumer Data Industry Association.
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Short Takes: Applications Down / Banks Launch Ad Campaign Against Capital Proposal / Redwood Expands HEI Lending

September 6, 2023
Brandon Ivey
A reduction in interest rates wasn't enough to help increase mortgage applications last week.
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Liability for AVMs Should Lie With Others, Lenders Argue

September 5, 2023
Dennis Hollier
Trade groups representing lenders noted that mortgage originators typically have no control over AVM providers and have no way to assess the goals, design or data inputs that go into the models.
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Former Ginnie Mae President Proposes Help for Nonbank Ginnie Issuers

September 1, 2023
Monica Hogan
Ted Tozer calls for Ginne Mae to use federally backed mortgages as collateral to guarantee short-term nonbank liabilities.
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