FHFA Director Bill Pulte ordered the mortgage giants to start using more inclusive VantageScore 4.0 in July. But adoption is a “complex, technical and arcane” process that could drag into next year. Continue reading
Being both a real estate agent and a landlord can feel like running two businesses at once. Ryan Barone examines the rise of intelligent rental management tools. Continue reading
Survey shows most Americans are also concerned that privatizing the mortgage giants might lead to higher mortgage rates, although Democrats and independents are more likely to be worried than Republicans. Continue reading
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
Boom’s new product will allow virtually any large-scale property management platform or rent payment gateway to directly embed its payment reporting module for faster, simpler reporting of tenant payment records. Continue reading
The plan to move to a bi-merge process allowing lenders to use two, instead of three, credit reports was announced last October by Fannie and Freddie’s federal regulator. Continue reading
The new tool, Credit Builder, allows credit reporting institution TransUnion to consider rental payments when its algorithms build credit scores. Continue reading
The 6-year-old digital property management firm scooped up the companies in a bid to boost digital payment workflows and aid tenants in credit building, according to an announcement this week. Continue reading
“We invested heavily into building our end-to-end software solution for rent reporting and consumer app layer and now we’re focused on revolutionizing the entire renter experience,” said Boom CEO and co-founder Rob Whiting. Continue reading