• Ocwen5.20+0.31 +6.34%
  • Zillow32.94-0.91 -2.69%
  • Trulia47+0 +0%
  • NationStar15.93+0.88 +5.85%
  • CoreLogic40.08+1.15 +2.95%
  • RE/MAX57.90+1.40 +2.48%
  • Fannie Mae2.64+0.00 +0.00%
  • Freddie Mac2.52+0.01 +0.40%
  • Wells Fargo55.96+0.57 +1.03%
  • CitiMortgage59.42+1.09 +1.87%
  • Bank of America23.48+0.45 +1.95%
  • Lennar51.36+0.38 +0.75%
  • Fidelity National Financial38.91+0.33 +0.86%
  • D.R. Horton33.27+0.22 +0.67%
  • PulteGroup23.73+0.26 +1.11%
  • First American39.05+0.08 +0.21%
  • BKFS38.20+0.35 +0.92%
  • AUDUSD=X0.7638+0.0005 +0.0629%
  • USDJPY=X111.0620+0.0180 +0.0162%
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Home >> News >> Origination

Considering Alternatives in Credit Scoring

Considering Alternatives in Credit Scoring

Alternative payment records could provide valuable routes to better credit for low-income people, and open up the path to a mortgage. Data from checking accounts rent, telecommunications, and utility accounts could all supplement the negative collections data. The problem is, very few consumer files have these types of data.

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Serving a New Kind of Buyer

Serving a New Kind of Buyer

We sat down with industry veteran Joseph Melendez to learn how changing buyer demographics, technology, and the new administration are shaking things up. Melendez is the CEO of ValueInsured, a down payment protection provider based in Dallas. He has more than three decades in the insurance and financial services industry.

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Low Inventory Hinders High Home Demand

Low Inventory Hinders High Home Demand

The Demand index, based on Redfin customer requests for home tours and writing offers, shows that buyers requesting tours were down 8.2 percent while buyers requesting writing offers were down 7.7 percent month-over-month. Redfin blames the slight reduction in demand on the small inventory.

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The FHA Can Increase Credit Access

The FHA Can Increase Credit Access

According to Urban Institute, the FHA has more power to increase credit access. The GSEs do risk-based pricing through their loan-level pricing adjustments. However, the FHA does not do risk-based pricing, and so it has insured borrowers and so it has insured borrowers with less-than-pristine credit. Charging the same fee for those with good credit as those with bad credit has limited credit availability.

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Lender Optimism High, Profits Low

Lender Optimism High, Profits Low

Fannie Mae’s survey respondents point to competition from other lenders and market trend changes, such as a shift from refinance to purchases, as top reasons for low profit margins. However, respondents point to government regulatory compliance, a historically top reason for lenders’ decreased profit outlooks, as a lesser reason.

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First American Executive Awarded as ‘Valuation Visionary’

First American Executive Awarded as ‘Valuation Visionary’

The Valuation Visionary award recognizes a standout collateral valuation professional every year who has demonstrated outstanding leadership, innovation and professionalism. Winners are nominated by their peers within the Collateral Risk Network. The recipient will be awarded at the Valuation Expo East on March 20, 2017, in Orlando, Florida.

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Ocwen Appoints Independent Member on its Board of Directors

Ocwen Appoints Independent Member on its Board of Directors

The company has also increased the size of the Board from eight members to nine after the appointment of the newest Board member. Ronald J. Korn, a Director at Ocwen, has informed the Board that he will retire from the Director position this May. Upon Korn’s resignation, the size of the Board will be reduced from nine members to eight.

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Mortgage Performance Continues to Improve

Mortgage Performance Continues to Improve

Foreclosures, loan modifications, and forfeitures have been on a decline for a couple years, according to a report form the Office of the Comptroller of the Currency. The amount of completed foreclosures dropped from 2 years ago by almost 19,000, while deed-in-lieu-of-foreclosure actions have dropped from 1.2 thousand to 0.8 thousand, Home forfeiture actions in total decreased by 32.3 percent year-over-year.

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