Borrowers suing Loandepot are sharing alleged evidence of the lender’s scheme to steer borrowers to higher rates and deprive its loan officers of their full compensation. The latest filing in a Truth in Lending Act lawsuit cites emails, screenshots and the testimony of three LOs discussing the company’s actions to circumvent the loan officer compensation […]
Loandepot faces claims of ‘smoke and mirrors’ rate scheme Read More »
Equifax announced changes to its pricing strategy following Fair Isaac Corp. (FICO)’s rollout of a new program that allows tri-merge resellers to calculate and distribute its scores directly to mortgage lenders. The credit bureau said it will offer VantageScore 4.0 – a direct competitor to FICO — at $4.50 per score through the end of
Equifax slashes VantageScore 4.0 pricing as FICO launches new reseller model Read More »
Kansas City Federal Reserve Bank President Jeff Schmid said Monday that inflation remains above the Fed’s goal and backed current interest rate policy — even as the labor market cools and housing costs remain a key driver of inflation. Speaking to the CFA Society Kansas City, Schmid said he voted in favor of the Fed’s
Kansas City Fed chair backs cautious approach on rates Read More »