Equifax, the second-biggest global credit bureau, was hit with a proposed class-action lawsuit after a report that it provided inaccurate credit scores on millions of U.S. consumers looking for loans.

The founder of the New York City bank and CDFI focused on lending to underserved communities and augmenting digital capabilities.

The REIT is paying a $10.5 million premium to acquire the company, which will allow it to bring servicing in-house.

The non-qualified mortgage company allegedly failed to follow through on approximately $38 million it contractually agreed to buy.

The Tennessee-based originator is now a private-label retail group, which has branches in Alabama and Kentucky in addition to its home state.

Equifax said some consumer credit scores were changed because of a computer error that has since been rectified.

Equifax provided inaccurate credit scores on millions of U.S. consumers looking for loans, The Wall Street Journal reported, citing bank executives and people familiar with the matter it didn't identify. 

CEO Michael Nierenberg hinted at an upcoming partnership, as the rebranded New Residential reported a quarterly loss from residential mortgages plus management internalization costs.

The commission alleged that the company falsely told customers that they would make more money by selling to the company than it would on the open market.

The San Francisco megabank plans to reinstate guidance that drew scrutiny following revelations that women and nonwhite candidates were interviewed for jobs that had been reserved for someone else.

Monetary policy has a more significant impact on spending of U.S. households headed by white women than on those led by white men or Black men and women, the Federal Reserve Bank of San Francisco said.

As soaring inflation and turbulence in public equities weigh on private markets, cash-hungry startups have raised capital through convertible notes, in part because they delay the need to lock in a fresh valuation.

Discrimination claims and data breaches are just some of the issues the industry has faced this year.

Also, Click n' Close, LendArch, First Community name chief officers, Evergreen promotes long-time leader to president and LenderClose grows its marketing team.

The deal also includes the Homefacts website

With tight inventory and rising rates posing challenges to today's home buyers, mortgage lenders face a tricky environment for maintaining volumes. National Mortgage News chats with three of the top-ranked producers of 2022 to discuss strategies to stay competitive in the months ahead.

The company formerly known as UniversalCIS Credit Plus, which offers credit report services and appraisal technology, adds a new vertical to offer its mortgage lender clients.

The complaint is the most recent in a spate of litigation this year over talent and theft of trade secrets.

Dennis Hermonstyne, a legal and regulatory expert, previously held roles with E-Trade and the Federal Reserve System.

The firm, which owes warehouse lenders approximately $418 million, has already been granted by a federal judge $175 million in debtor-in-possession financing by PIMCO and Barclays Bank to fund loans in its pipeline.