What to expect at Compass’ annual RETREAT in San Diego this week

Throughout the week, RETREAT attendees will learn how to develop new business tactics, wield technology more efficiently and stay afloat as guidance around commissions changes in 2024. Continue reading

First American settles ‘no-poach’ allegations with New York AG

The $4.5 million agreement follows similar settlements with “big four” title insurance underwriters Fidelity National Financial, Old Republic National Title Insurance and Stewart Title Guaranty. Continue reading

VantageScore: New scoring model could qualify 4.9M extra borrowers

Company puts heat on regulators to stick to 2025 timetable for requiring lenders to use VantageScore 4.0 to evaluate borrowers, saying delays could impact “creditworthy people of color.” Continue reading

Biden administration backs plan to convert more offices to homes

Initiative provides new financing and technical assistance to developers and local government, and highlights grants and tax incentives that can make conversion projects more attractive. Continue reading

Rocket subsidiary Lendesk launches mortgage AI assistant

Lender Spotlight AI Assistant sifts through the finer points of more than 7,000 mortgage options to help brokers identify the right product and answer clients’ questions. Continue reading

Project to tackle appraisal bias continues with Nov. 1 hearing

The public is invited to join leaders from the American Bankers Association and mortgage giants Fannie Mae and Freddie Mac for a hearing on tackling appraisal bias. Continue reading

Ameris is now 10th lender to settle DOJ redlining charges in 2 years

In announcing the $9 million settlement with the Florida lender, Attorney General Merrick Garland said DOJ “currently has over two dozen active investigations into redlining, spanning neighborhoods across the country.” Continue reading

ACI paying another $20M to settle mortgage payments debacle

In settling with state regulators, the Miami-based electronic payment processor is looking to close the books on a 2021 test that triggered $2.3 billion in erroneous mortgage payments. Continue reading

TransUnion knocks plan to let lenders use 2 credit reports

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

Oldest US community bank to pay $9M to settle redlining allegations

Washington Trust “vehemently” denies the allegations but joins a long list of lenders who have coughed up $98 million in settlements since the DoJ launched an anti-redlining initiative in 2021. Continue reading