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Category: News and Trends
FICO: Understanding the Risks of Multiple Credit Scores in Mortgage Lending
As the Federal Housing Finance Agency considers whether to update the credit scoring models used by Fannie Mae and Freddie Mac, a new paper from Dr. Clifford Rossi explores the risks of introducing multiple credit scores to the mortgage lending system.
Bob Caruso of ServiceMac on Changes in Mortgage Servicing and Subservicing
Bob Caruso is CEO of ServiceMac LLC, Fort Mill, S.C., a wholly owned subsidiary of First American Financial Corp.
Martin Frenkel and Brian Nettleingham of Maddin Hauser: What Lenders Need to Know about Layoffs
Since April , more than 20,000 mortgage banking and brokerage positions have been cut, primarily at lenders. While such workforce reductions are designed to reduce costs, they can also leave mortgage companies exposed to significant liability if they violate federal and state laws regarding layoffs.
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“We are seeing many people who plan to arrive early to do some exploring before the conference. There is an attraction to this city, perhaps because not everybody has been to Nashville, so many are taking some personal time to enjoy the city. Plus, access to Nashville is very easy from nearly everywhere in the U.S.”
–MBA Vice President of Conferences and Meetings Elaine Howard.
MBA Chart of the Week Oct. 14 2022: Housing Costs
This week’s Chart of the Week highlights different measures of housing costs, all indexed to 2018. The lowest lines are the CPI measures of shelter costs, including the “’all-in” shelter measure and breakouts for rents and owners’ equivalent rents.
MBA Advocacy Update Oct. 17, 2022
On Thursday, MBA and several industry trade groups – as part of the Black Homeownership Collaborative – submitted a letter to HUD urging the agency to reduce the annual mortgage insurance premium and suspend the life of loan requirement for borrowers with FHA-insured loans.
Hotel Cap Rates Increase
U.S. Realty Consultants LLC, Columbus, Ohio, reported hotel capitalization rates generally increased compared to six months ago.
Sponsored Content from WFG: Are You Capitalizing on the Home Equity Lending Storm?
Let WFG Lender Services arm you with the tools to capture your share of the rapidly growing home equity market.
FICO: Understanding the Risks of Multiple Credit Scores in Mortgage Lending
As the Federal Housing Finance Agency considers whether to update the credit scoring models used by Fannie Mae and Freddie Mac, a new paper from Dr. Clifford Rossi explores the risks of introducing multiple credit scores to the mortgage lending system.