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Mortgage

FICO bypasses credit bureaus with new program for mortgage lenders

Credit Score, FICO, HWmember, LendingLife, Mortgage, Origination /

Fair Isaac Corp. (FICO) has launched a program allowing tri-merge resellers to calculate and distribute its scores directly to mortgage companies, effectively bypassing the three nationwide credit bureaus: Equifax, TransUnion and Experian. The move comes amid intensified competition with VantageScore, owned by the three bureaus, following the Federal Housing Finance Agency’s (FHFA) decision to let […]

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Fannie and Freddie waive some loan requirements amid shutdown

Fannie Mae, FHA, Freddie Mac, Ginnie Mae, Government Lending, Government Shutdown, HWmember, LendingLife, Mortgage, Origination /

Government agencies and enterprises issued guidance on Wednesday for mortgage lenders and servicers during the current government shutdown, which affects federal employees, services, contractors, vendors and other businesses. Fannie Mae and Freddie Mac are waiving some requirements for lenders due to the potential inability to confirm income, reserves, tax, and Social Security information from borrowers

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CrossCountry seeks dismissal in kickback suit

CrossCountry Mortgage, HWmember, Lawsuit, Legal, Mortgage, Real Estate Settlement Procedures Act /

CrossCountry Mortgage has asked a federal judge to dismiss a lawsuit alleging the lender engaged in an illegal kickback arrangement with a Raleigh real estate firm. Homebuyer Jeremiah VonBlohn, who filed suit at the end of July, claims his agent at Raleigh Realty directed him to CrossCountry in 2022 under a co-marketing agreement that gave

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Better launches bank statement HELOC for small business owners

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Better announced on Wednesday the launch of its Bank Statement home equity line of credit (HELOC) aimed at the 36.2 million small business owners in the United States who often don’t fit within traditional underwriting standards. The new program lets self-employed borrowers access home equity without tax returns, W-2s or profit-and-loss statements. Instead, applicants can

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Record senior home equity is fueling demand for new solutions for older American homeowners

Longbridge Financial, Mortgage, Origination, Sponsored /

Older American homeowners hold substantial home equity, built over decades of steady ownership. With refinances scarce and mortgage rates still elevated, that stockpile has become the most durable growth story in housing finance—and one of the most practical ways to help older households manage expenses, preserve independence and stay in their homes. The question is

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CFPB ends multiple lender consent orders, opens few new cases

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Under the Trump administration, the Consumer Financial Protection Bureau (CFPB) has been winding down enforcement actions against lenders and servicers while opening only two new cases. On Sept. 18, the Bureau terminated consent orders against Washington Federal Bank, Planet Home Lending, Apple Inc. and U.S. Bank National Association. The cases spanned mortgage rules, credit cards

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Seniors see aging in place as greatest health risk in 2025: survey

Aging in Place, LendingLife, Mortgage, Reverse /

U.S. seniors cited aging in place as the biggest threat to their overall health and well-being for the second straight year in 2025, regardless of where they live, their income or their education, according to a new Alignment Health survey. In total, 64% of seniors identified aging in place as their primary social risk, down

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Giorgio Bertuol named president of sales at West Capital Lending

California, HWmember, loanDepot, Mortgage, People Movers /

West Capital Lending on Tuesday announced that Giorgio Bertuol is taking on the role of president of sales. Bertoul comes from loanDepot, where he served as the executive vice president of sales since September 2011, per his LinkedIn. loanDepot has been shaking up its leadership since its founder, Anthony Hsieh, returned to the helm. In

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Mortgage rate shift turns fall into a ‘new spring’ for lenders

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Recent moves in mortgage rates have industry experts predicting that this fall could feel like a “new spring” for originations — even as the threat of a federal government shutdown looms. On Tuesday, HousingWire’s Mortgage Rates Center, which tracks locked loans, showed that 30-year conforming loan locks averaged 6.34% — just one basis point (bps)

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