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Chi Chi Wu

Lawmakers spar over GSE credit score modernization plans

Government-sponsored enterprise plans for legislatively-mandated credit score modernization drew mixed opinions Thursday as lawmakers held a House Financial Services Committee hearing on broader consumer data rules. Processing Content Dan Smith, president and CEO of the Consumer Data Industry Association, backed the idea of adding VantageScore at the GSEs to compete with FICO Classic, which has […]

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CMG Mortgage sued for raiding lenders’ Arizona branches

A Utah lender is suing CMG Mortgage for allegedly surreptitiously raiding two of its Phoenix-area branches. Processing Content SecurityNational Mortgage Co. sued the larger competitor last month in an Arizona state court, and CMG elevated the case to a federal forum this week. The complaint identifies both SNMC and CMG employees purportedly involved in the

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