Credit

What developments around rent reporting and new credit standards portend for mortgage companies. Part 2 of a series on government-sponsored enterprise changes.

The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.

Mortgage credit availability increased 2.3% to 106.8 last month, marking the fourth consecutive month of growth.

Late-stage mortgage delinquencies hit the highest level since January 2020 in September, a new report from VantageScore found.

The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.

Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge.

Equifax will hold costs for scores from FICO rival Vantagescore through 2027 and offer other incentives meant to drive adoption of the alternative metric.

Through a new program, mortgage resellers will be able to calculate and distribute credit scores directly to customers, reducing their reliance on credit bureaus.

The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

High interest rates and tough economic conditions played a role in the credit woes that overcame BayFirst Financial's small-dollar lending effort.

A FICO survey shows 33% think exaggerating income on credit applications is acceptable. Ironically, many also prioritize strong fraud prevention from banks.

As high interest rates make refinancing impossible for many homeowners, increasing numbers of them are turning to HELOCs and home equity loans for cash.

Bill Pulte, regulator and conservator of entities that buy and securitize many mortgages, also reaffirmed he's 'not happy with" lenders' main score provider.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.

The deal was divided into multiple debt pieces rated by Kroll Bond Rating Agency as well as a riskier first-loss piece.

Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.

Affirm partners with Sixth Street to sell its buy now/pay later loans to the investment firm; Associated Banc-Corp promotes Steven Zandpour to deputy head of consumer and business banking; Visa Direct speeds up its money transfers; and more in this week's banking news roundup.

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

Prophecies about a wave of bank failures caused by sickly CRE loans haven't yet come true. But there are still plenty of caution signs in a saga that will take years to play out.