The Federal Trade Commission is seeking comment on how credit scores affect availability and pricing of financial products, including mortgage loans and homeowners insurance, as part of a study mandated by Congress.The request for public comments lists 24 questions on the effect that credit scores and scoring systems have on consumer credit and another 21 questions related to credit-based insurance scores. In one question, the FTC asks, "What steps, if any, do score developers, lenders or other users of credit scores take to ensure the use of credit scores does not result in negative or differential treatment of protected categories of consumers under the Equal Credit Opportunity Act?" The FTC is also seeking comment on secondary-market activities. "In what ways has the availability of credit scores affected the development of the secondary market for credit products?" the agency asks. "Has the use of credit scoring increased or decreased creditors' access to capital?" The comment period ends April 25.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
6h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
6h ago -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18