Credit scores

The credit reporting agency is trying to get a CFPB lawsuit dismissed by claiming the consumer bureau didn’t sign off on a 2017 consent order for the same violations.

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

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.

In the fourth quarter of 2021, home equity line of credit volume was up 31% from the same period the year before.

Mortgage finance stakeholders must pay careful attention to “nuts-and-bolts” which, if ignored or misunderstood, can become landmines when implementing even the most well-intended new policies or practices writes a senior advisor at the Milken Institute Center for Financial Markets

If lenders get to choose the credit-scoring model, the Big Three credit bureaus will likely set a price for VantageScore that is super low, so low that FICO cannot compete, just as Uber decimated the taxicab industry by setting prices artificially low until the taxicabs were gone, writes an attorney at the National Consumer Law Center.

Esusu, a financial technology company that aims to help bridge the racial wealth gap by reporting rent payments to credit agencies, has become one of only a few Black-owned startups to reach a valuation of $1 billion after closing a Series B round led by SoftBank Vision Fund 2.

Ratings jumped largely because white-collar workers have raced to take advantage of the lowest mortgage rates in history.

The COVID-19 pandemic has exacerbated income inequality in America, and that has implications for banks and other lenders. Among those suffering most: renters, front-line workers and minority small-business owners.