Banking

Fifth Third announced it plans to buy the Dallas bank in a $10.9 billion transaction.

VantageScore's claims of outperforming Classic FICO rely on flawed methods and biased comparisons that overstate its impact, according to analysts from AEI Housing Center.

The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.

FICO's claims about its 10T score highlight how its monopoly has stifled innovation and raised costs for homebuyers, according to the CHLA's Rob Zimmer.

The move will lead the New Jersey-based bank to eliminate over 100 employees, primarily within its mortgage lending operations, according to a state filing.

VantageScore 4.0 is more predictive than Classic FICO, offering a measurable lift in identifying high-risk borrowers and avoiding losses, according to the chief data scientist at VantageScore.

The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.

The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.

Consumers are 19% more likely to pay their auto loans than their mortgages, which is a shift in attitude from the pandemic period, FICO said.

Consumers are more interested in reporting rental pays to the credit bureaus as landlords become less involved, according to TransUnion.