Barrett Burns has been named president and chief executive officer of VantageScore Solutions LLC, Stamford, Conn., which was launched in March by the three national credit reporting companies to offer a consistent approach to scoring consumer creditworthiness.The company said Mr. Burns, 60, has more than three decades of experience in risk and credit management and has held senior leadership positions at Citibank, Ford Motor Credit, and Bank One. Before joining VantageScore, Mr. Burns was the executive vice president in charge of the National Private Banking Group of U.S. Trust. VantageScore is a predictive scoring system that was created jointly by Equifax, Experian, and TransUnion. VantageScore can be found online at http://www.vantagescore.com.
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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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