More than 70 mortgage originators are or will be using FICO 10T, nearly three months after the government-sponsored enterprises began allowing loans sold to them to be scored using this model. Processing Content May and June were the strongest months of lender enrollment to date, FICO said. “We’re at an inflection point in mortgage credit […]
Over 70 mortgage lenders now signed up for FICO 10T Read More »
Redwood Trust shared some details around how nonqualified mortgages and other new products helped it cope with the industry’s tough market conditions in the second quarter as it confirmed prereported results and bottom line challenges due to legacy assets. Processing Content Redwood recorded a $2.9 million loss to common stockholders ($1.1 prior to payouts to
How Redwood is leaning into new loans to lift originations Read More »
Home prices grew modestly in May, while inflation continued to surge, according to two home price indicators. Processing Content The FHFA reported a 0.3% monthly increase from April to May and a 2.2% annual rise. Similarly, the S&P Cotality Case-Shiller home price index posted a 1.1% annual gain and a 0.9% monthly increase from April.
May home price gains split by region; LOs should look east Read More »