Credit

The partnership between personal finance platform Esusu and the National Rental Home Council has several of the trade group's members delivering payment data. They say that has helped result in over 85,000 originations across lending segments.

Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.

Industry organizations indicated they want to be ready to analyze an advanced credit metric in early 3Q in line with FHFA plans, but they see some roadblocks.

Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.

Mortgages that homebuyers locked in March rose 17% even with FICOs at record high for Optimal Blue's dataset, suggesting there are many qualified borrowers.

State restrictions on the use of credit scores appear to help a wide range of consumers cut homeowner insurance costs to varying degrees, according to Matic.

The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.

Cardinal Financial's utilization of the FICO alternative credit metric could help pave the way for broader use as Fannie Mae and Freddie Mac move to adopt it.

One depository has now joined two nonbanks in publicly announcing they're using the advanced score ahead of planned broader implementation by the agency market.

Institutions obtaining financing from the FHLB that's secured by their mortgages can now use the advanced score to underwrite collateral loans.

The majority of users are looking for new credit lines and others want to improve their scores. Credit monitoring by consumers may be a good indicator of both, Transunion found.

Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.

The guidance also underscores consumer rights to obtain access to their own information as well as identities of sources providing data.

The company has linked tradeline information to lien data in ways designed to help mortgage portfolio managers keep pace with property values as they change.

Analysts agree that the Long Island-based bank will probably absorb some losses due to its exposure to struggling segments of the commercial real estate market. But they differ on the extent of the likely damage.

The trend exists in all past-due categories for subprime mortgages, but the numbers are still below levels seen just before the pandemic, Vantagescore found.

Some proposed changes to uniform mortgage-backed securities, apartment loans and derivatives will be made while one involving credit reports and scores was pulled.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.