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Short Takes: State Farm Exits California / MSR Deals From Phoenix / MISMO Reference Model / FHFA Joins Disaster Mitigation Group

June 1, 2023
Sam Manas and Paul Muolo
State Farm has a 20% share of the homeowners market in the Golden State...
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OneMain Paying NY $4.25 Million for Security Failures

May 30, 2023
Sam Manas
The New York Department of Financial Services said OneMain failed to effectively manage user access privileges, improperly managed security policies for software development and failed to conduct due diligence for certain third-party vendors.
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Short Takes: Freddie Offers Automated Paystub Assessment / ‘Soft’ Credit Pulls From Blend / Non-QM MBS From Ares / Fintech Enters Warehouse Sector

May 23, 2023
Brandon Ivey
The GSE says the addition to its income assessment tool will expand access to credit.
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Short Takes: Applications Increase / Blend Gaining Market Share / Cenlar’s Information Factory / Sagent in India

May 10, 2023
Brandon Ivey
As interest rates declined, applications increased...
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Lenders Can’t Use AI Blindly, Advocates Warn

April 18, 2023
Sam Manas
Since the passage of the Equal Credit Opportunity Act and the Fair Housing Act, financial services providers have tried to “achieve fairness through blindness,” according to Kareem Saleh, CEO of disparity-analysis firm FairPlay.
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AI Shows Promise for Mortgage Industry

April 6, 2023
Sam Manas
ChatGPT and similar artificial intelligence offerings can be used to improve efficiencies at mortgage companies.
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Short Takes: Rate Locks Increase / Freddie Partnership Builds Credit Scores / California Even Less Affordable

April 6, 2023
Brandon Ivey
Bank failures helped to drive down interest rates on mortgages in March, which led to an increase in rate locks.
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Long Timeline for New Credit Score Models at GSEs

April 5, 2023
Dennis Hollier
New credit scoring models will be fully implemented by the GSEs near the end of 2025, according to FHFA.
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Short Takes: More from CFPB on LEP / Garris Horn Adds Attorneys / MISMO Tech for Servicing Transfers

March 30, 2023
Sam Manas and Brandon Ivey

Short Takes: Buffett Buys Some Mortgage Assets / MSRs for Sale / Funding Mortgage Tech: Flagstar / The BKI Sale: Ice, Ice, Baby / Better.com’s Reduced Valuation

February 28, 2023
Paul Muolo
Lenders may be facing tough times but that isn’t stopping some shops from seeking out good ideas in the tech space.
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