Scaling from Freelancer to Business Owner

Plaintiffs accusing the lender of steering them to higher rates cited comments LOs made under oath describing elements of the alleged scheme. View the full article

Applications for mortgages to buy a home or refinance both fell for a second week, marking a swift reversal of what had been a hopeful sign of a revival in the US housing market. View the full article

Traders are bracing for a range of Fed outcomes: some hedging flows have favored outlier dovish scenarios and other trades have focused on the possibility that the Fed forgoes a move at one meeting. View the full article

The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department. View the full article

The truth is straightforward: the VantageScore 4.0 credit score outperforms the outdated FICO Classic credit score for mortgage, writes the chief data scientist at VantageScore. View the full article

Top Democratic lawmakers are asking the full appeals court to hear a case about the The President administration's efforts to fire employees at the Consumer Financial Protection Bureau. View the full article

Federal Reserve Gov. Michael Barr is warning small banks about the growing threat from fraudsters' use of AI-generated deepfakes. But he also says AI may be able to help community banks fight fraud more effectively. View the full article

New Federal Reserve research reveals that identity theft victims who use extended fraud alerts often see significant and lasting credit improvements. View the full article

Equifax will hold costs for scores from FICO rival Vantagescore through 2027 and offer other incentives meant to drive adoption of the alternative metric. View the full article

Roughly 100,000 properties in the United States had a foreclosure filed in the third quarter this year, an increase on a quarterly and yearly basis, ATTOM said.

Some lenders have a workaround for the Federal Housing Administration's suspension of reverse mortgage endorsements but fewer options exist in other instances. View the full article

The antitrust lawsuit suggests over two dozen mortgage companies shared sensitive loan origination information as the "price of cartel membership." View the full article

Stenger joins the Chicago-based lender after more than a decade at Movement Mortgage and will oversee its retail platform, including new tech enhancements. View the full article

The rollout comes as the company looks to build out offerings for originators, launching after PHH returned to the proprietary reverse-mortgage arena this year. View the full article

In dollar terms, the amounts consumers had to come up with increased by $500 on a consecutive quarter basis, in contrast to a $100 drop the year before. View the full article

The state court seemed open to a narrower view of the legal applicability to loans predating the statute than of broad constitutional challenges to it. View the full article

Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans. View the full article

Regulators are nearing a key step in overhauling credit scoring as the MBA touts its influence on GSE policy and close alignment with Washington leaders. View the full article

The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale. View the full article

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention. View the full article

The company's servicing valuations fell but by less than in previous quarters. Lower rates both aided production and created recapture opportunities. View the full article

Kin, a direct-to-consumer insurance provider, has started a mortgage broker in Florida which also takes loan applications through a call center or online. View the full article

The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion. View the full article