HCP Inc., a real estate investment trust based in Long Beach, Calif., will replace Commerce Bancorp Inc. in the S&P 500 Index after the close of trading on March 31, Standard & Poor's has announced. S&P said the reason for the change is that Commerce Bancorp is being acquired by The Toronto-Dominion Bank. S&P can be found online at http://www.standardandpoors.com.
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.
