New Century Financial Corp., Irvine, Calif., has announced the adoption of FraudMark, an application by BasePoint Analytics, to supplement the company's mortgage fraud prevention efforts.New Century, a real estate investment trust, said the agreement with BasePoint will allow the REIT to significantly improve its pre-funding fraud detection and prevention and reduce review costs for potentially fraudulent applications. New Century described FraudMark as an application scoring system that "combines the predictive power of loan applicant data with the proven pattern-recognition analytics of BasePoint's fraud modeling technology." BasePoint will also provide fraud consulting services. The companies can be found online at http://www.ncen.com and http://www.basepointanalytics.com.
-
A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
8h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
11h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11