Fair Isaac and Fidelity picked the Mortgage Bankers Association convention in San Francisco to announce an enterprise-wide licensing agreement to deploy Fair Isaac's Blaze Advisor as the core of Fidelity's rules-layered architecture, spanning Fidelity's entire suite of product offerings.The result is expected to be that Fidelity will enjoy reduced costs in managing all its systems and will increase its speed to market with new products. The Fidelity announcement noted that business rules are playing an increasing role in streamlining complex enterprise systems. Fidelity said it chose Blaze Advisor because it offered comprehensive implementation support.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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