As new scoring models by Fair Isaac and VantageScore vie for acceptance by Fannie Mae and Freddie Mac, claims and counterclaims fly. In the meantime, mortgage giants are stuck with FICO Classic. Continue reading
Once selling guides are updated, lenders will have the option of using either VantageScore 4.0 or the Classic FICO scoring model, but FICO Score 10 T remains in limbo, FHFA says. Continue reading
Like Leticia James, Sen. Adam Schiff denies lying on mortgage applications and decries “baseless attempt at political retribution” that won’t stop him from holding Trump accountable. Continue reading
Like Leticia James, Sen. Adam Schiff denies lying on mortgage applications and decries “baseless attempt at political retribution” that won’t stop him from holding Trump accountable. Continue reading
Central bank refutes allegations by Trump administration officials that headquarters renovation project has been mismanaged and that Powell lied to Congress about its specifics. Continue reading
FHFA Director Bill Pulte is reportedly “on thin ice” with several Trump administration officials over lack of communication on new Fannie and Freddie credit score policy. Continue reading
Title insurers wanted to put the brakes on a pilot program that uses automated title reviews to allow some homeowners to refinance their mortgage without having to pay for title insurance. Continue reading
OMB Director Russell Vought put accusations that Fed Chair Jerome Powell lied to Congress about a $2.5 billion renovation of the Fed’s headquarters in writing Thursday. Continue reading
Mortgage giants allegedly weren’t informed in advance that they’d be required to accept VantageScore 4.0, and lenders have lots of questions about how the new process will work. Continue reading
While questions remain about the new policy, FHFA Director Bill Pulte says lenders must still use “tri-merge” process to obtain scores from all three major credit bureaus. Continue reading