Kirkpatrick & Lockhart Nicholson Graham LLP, which has a large mortgage banking and financial services practice, is in merger talks with a Seattle-based law firm that is focused on the technology industry.Preston Gates & Ellis and K&LNG are in "discussions aimed at a possible combination of their firms by year-end," the two companies said in a statement. Kirkpatrick & Lockhart merged with the London-based Nicholson Graham in January 2005.
While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
Federal Housing Finance Agency Director Bill Pulte said last week that it will slash the budget for its inspector general, spurring Senate Banking Committee Democrats to seek his testimony.
The technology provider now counts two top 10 servicers among its customers and intends to use new capital to accelerate product development and add staff.
Fitch Ratings, noting the reduction in Wells Fargo's balances and sale of non-agency servicing, said the bank no longer meets expectations at its old grade.
ARMs accounted for more than 11% of rate locks, their largest share in nearly four years and up more than three percentage points over the past three months.
The chief risk officer's oversight extends to the modernization of loan pricing and scoring, which the GSEs' oversight agency has been accelerating.
