TransUnion pushes back on single-pull mortgage credit proposal
The credit bureau argues that replacing tri-merge reports with a single pull could exclude creditworthy borrowers and increase systemic risk.
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Rocket trims workforce after completing Mr. Cooper acquisition
Rocket closed the $14.2 billion acquisition in early October — about 51% higher than the valuation announced in March — after completing all necessary approvals.
TransUnion cuts VantageScore 4.0 pricing for mortgage lenders
Credit bureau TransUnion has followed its peers in slashing prices for mortgage lenders purchasing VantageScore 4.0, responding to Fair Isaac Corp. (FICO)’s newly implemented pricing model.
Griffin Funding alleges West Capital Lending, former LOs diverted borrower leads
New lawsuit reignites debate over lead ownership and data transfers as loan officers move between lenders and brokerages.
loanDepot claims West Capital Lending used illegal playbook to become a top brokerage
loanDepot is accusing West Capital Lending (WCL) of hiring hundreds of loan originators as independent contractors and paying them revenue splits.
PHH Mortgage unveils revamped non-QM options
PHH Mortgage introduces FlexIQ, a new non-QM product suite, to enhance non-agency offerings and support diverse borrowers.
Equifax slashes VantageScore 4.0 pricing as FICO launches new reseller model
Equifax announced changes to its pricing strategy following Fair Isaac Corp.’s rollout of a new program that allows tri-merge resellers to calculate and distribute its scores directly to mortgage lenders.
Exclusive: CrossCountry Mortgage CEO unveils organic growth strategy
Rather than pursuing mergers and acquisitions to strengthen its origination and servicing platforms, the company has focused on organic growth by acquiring mortgage servicing rights (MSRs) and building an asset management arm
CFO Kevin Ryan to retire from Better, will join PennyMac as chief strategy officer
Better’s chief financial officer, Kevin Ryan, is retiring from the company and will be joining PennyMac as chief strategy officer.
FICO’s new program draws mixed reviews from mortgage market
Fair Isaac Corp.’s (FICO) decision to let resellers calculate and distribute its scores directly to lenders drew a mixed response from the mortgage industry.