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Trade groups express concern to FHFA over historic credit data

Housing Wire

The VantageScore dataset that is scheduled to be made available includes information going back to 2013, which is not far enough, the groups assert. FHFA was comfortable approving VantageScore 4.0 for use by the GSEs based on limited historical data,” the letter reads.

Legal 353
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Fix-and-flip lender Kiavi lays off 7% of employees

Housing Wire

Cuts also hit operations, risk and compliance, legal, finance, business operations and marketing teams, according to a presentation held on Wednesday afternoon. . Kiavi, founded in 2013 and led by CEO Michael Bourque, expanded to three states in June and now operates in 32 states and Washington, D.C. .

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PrimeLending taps Kim Dybvad to rebuild Mid-America division after poaching

Housing Wire

Dybvad, who joined the company in 2013 and is now a vice president, will be responsible for loan origination production in the Ohio, Indiana, Illinois, Michigan, Wisconsin and Kentucky markets. Home lender PrimeLending has promoted Kim Dybvad to lead its Mid-America division, months after the workforce quit en masse and joined a competitor.

Legal 297
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The housing industry’s disparate impact hopes

Housing Wire

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. Numerous industry stakeholders asked HUD to make some changes to the regulation to raise and further explain the threshold for disparate impact claims.

Legal 360
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CFPB names familiar faces as its chief enforcers

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. a legal defense nonprofit. He also had a stint as director at the Center for Responsible Lending.

Lending 331
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Opinion: When it comes to default and REO, what you don’t know will hurt you

Housing Wire

From 2007 through mid-2013, approximately 5.5 The mortgage lending industry exists to make home loans, not to repossess them. What’s really changed since 2013? This won’t just protect against legal or regulatory risk. Yet, we’re going to soon find out who’s heeding the lessons taught by the last foreclosure wave.

Legal 411
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It’s official: QM rule compliance delayed until October 2022

Housing Wire

Join Ashwin Dayal from LoanMonkey, BeSmartee CEO Tim Nguyen and Insellerate CEO Josh Friend to learn how to transform the borrower journey from transaction to relationship and gain a significant lift in production in today’s digital lending environment. Presented by: Insellerate.

Finance 370