Mortgage industry welcomes new credit score models, urges further reform
The majority of mortgage industry trade groups and professionals reacted in a supportive but pragmatic way following an announcement from federal housing agencies that detailed moves to modernize mortgage underwriting by introducing newer credit scoring models. They largely welcomed the shift while
FHFA, HUD move to bring new credit score models into mortgages
Federal agencies on Wednesday took steps to bring newer credit scoring models into the mortgage underwriting process, marking a significant shift in how borrower risk is evaluated. U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the adoption of FICO 10T and Va
Support grows for Whitmer housing zoning reform bills in Michigan
Michigan lawmakers returned from spring recess with housing affordability clearly in their sights. A bipartisan group shepherding a package of bills this week picked up strong support from a coalition of housing advocates and business groups, including the Home Builders Association of Michigan. That
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