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ICE’s deal could give it pricing power over the industry to the detriment of smaller lenders and consumers, the nonbank mortgage trade group said in a letter to the Justice Department

Equitable housing initiatives the government–sponsored enterprises detailed Wednesday will rely on mortgage company uptake of experimental underwriting strategies.

Fannie Mae and Freddie Mac asked originators to resubmit applications that contained errors and adjust sold mortgage information due to incorrect life-of-loan representations and warranties.

The lender and its founder are accused of retaliating against the second-in-command for raising alarm over deceptive financial statements and other concerning behavior.

The Federal Housing Finance Agency and the Consumer Financial Protection Bureau want financial institutions to provide more outreach to non-English speakers, a move that could foreshadow multilingual disclosure mandates.

Elevated prices coupled with higher mortgage rates are leading to affordability challenges that have reduced borrowing volumes.

If lenders can “divert” consumers’ attention at the right moment on their journey and invest in the appropriate places to ensure ROI — placing themselves front and center as the best choice over a competitor’s — they significantly increase their chances of closing a sale, writes the co-founder of Konnecto.

Recent data from several organizations further highlights affordability challenges and souring consumer sentiment, while a growing number of economists think the market has peaked.

The opinion heightens the need for servicers to be careful about billing communications, particularly when a distressed loan or foreclosure is involved.

The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.

No cause of death was provided for the longtime industry figure, who before joining CoreLogic in 2015 was at Freddie Mac for 28 years, including 13 as its chief economist.

Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

But for prospective buyers, soaring home prices in April pushed affordability closer to the all-time low set in June 2006.

While the appeal of homeownership and larger spaces led property values in many fire-prone regions to surge to new records, those areas are also seeing more frequent price drops, Redfin says.

Banks and fintechs wonder if regulators are getting more comfortable with machine learning-based ways of assessing credit, or if agency oversight will mean a crackdown. 

The inability to include both types together in standard loan pools has been one of the hurdles to the adoption of digital collateral.

With half-point interest-rate increases all but certain in June and July, Federal Reserve officials are shifting the focus away from a destination on hikes to something that’s trickier to determine and explain: the broader impact of their policies on the economy.

Secret test scenarios last year found a loan originator providing fewer options and services on multiple occasions to Black borrowers compared to white customers.

An American Bankers Association panel of experts predicted much slower economic growth, but agreed that the U.S. economy will avoid a recession over the next couple of years.

A Salem, Massachusetts, man was found guilty by a federal jury in Boston of a scheme that led to more than $3.8 million in losses to lenders, the U.S. Attorney's Office announced.