HUD and FHFA Revise Credit Scoring Models for Mortgage Lending
Mortgage Bankers Association's Bob Broeksmit emphasizes modernization of credit scoring, signaling potential shifts in lending practices and risk assessment.
FHFA and HUD Introduce New Credit Score Models for Mortgages
Federal agencies have initiated changes to incorporate newer credit scoring models in mortgage underwriting, enhancing borrower risk assessment methodologies.
Report Reveals 65% of Homebuyers Consider First Purchase as Permanent Residence
Discover insights on how many first-time buyers perceive their homes as long-term investments, reflecting shifting trends in the housing market.
New York State Experiences Decline in Home Sales Amid Rising Prices
Housing inventory in New York has decreased, impacting market dynamics as home sales slow and prices rise. Discover insights for private lenders.
Protecting Your Investment: A Private Lender’s Guide to Lien Priority
Understanding Lien Positions: A Guide for Private Mortgage Lenders In the dynamic world of private mortgage lending, every decision carries weight, and every piece of knowledge acts as a safeguard. For those who provide capital outside traditional banking channels, a keen understanding of the [...]
Real Estate and Title Professionals: Key Players in Combating Fraud
Quick reporting and preservation of evidence are crucial in addressing schemes that caused $275 million in losses, protecting private lenders from future risks.
Hawaii Residents Allocate the Largest Share of Income to Housing Costs
Iowa leads in low housing cost burden, while Hawaii residents allocate the highest income percentage to housing. Explore the full findings and implications.
Home-Sale Agreement Cancellations Rise to 13.4% in March
San Antonio experienced the highest rate of early home purchase agreement terminations among major metros, highlighting challenges in the current housing market.
Mortgage Industry Embraces New Credit Score Models and Calls for More Reform
Mortgage groups express support for HUD and FHFA's FICO 10T and VantageScore 4.0 plans, seeking clarity on timelines, pricing, and implementation guidance.
AI in Private Lending: Mastering Compliance Under Intensified Scrutiny
Regulatory bodies are intensifying their application of existing fair-lending and consumer-protection law to AI-driven risk assessment. Private mortgage lenders that use machine-learning models for underwriting or servicing decisions face real exposure under ECOA, the Fair Housing Act, and UDAAP. This guide explains the risks, the compliance framework, and the practical steps to build durable AI governance.