Today there are far more identities of U.S. residents on record than there are actual residents -- and the bad news is that 2006 is likely to be the worst year ever for identity theft, according to a company called Edentify.The good news is that actual losses from identity theft are continuing to fall, as consumers and lenders become aware of identify theft-related fraud at earlier stages, the Bethlehem, Pa.-based company says. Edentify offers patented measures for companies and individuals to prevent identity theft, including an "identity escrow account" that enables consumers to maintain ownership of their own biometric identity verification for every financial transaction they do. Though the mortgage application is a gold mine of borrower information, the mortgage industry is better than most at protecting borrower information, an Edentify spokesman said. The company can be found online at http://www.edentify.us.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
9h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
10h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16