AXIS Insurance became the second entity to settle in a Freddie lawsuit alleging that some D&O insurance providers refused to properly reimburse the GSE for legal expenses incurred during the 2008 crisis.
Industry players had raised concerns that the original proposal would have been too broad and included misconduct that didn’t affect safety and soundness.
Researchers compared the performance of borrowers with a credit score from FICO 10 T with previously unscoreable borrowers who are given a score based solely on traditional credit bureau data.
The GSEs will expand eligibility for loan modifications by revising mark-to-market LTV ratio-based requirements and using a step-by-step process until the borrower’s P&I payment is reduced by 20%.