Technology

Agencies supervising lenders should make it clear that the transition to less discriminatory algorithms won’t be used to punish banks for their previous use of older, less effective systems.

The federal class action lawsuit is at least the third similar action within the industry over a cyberattack revelation.

Ashley D. Bell and Bernice A. King, respectively the CEO and advisory council chair of Ready Life, are teaming up to help folks with poor credit buy a home by using rent payment history for mortgage underwriting.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

The partnership, which is expected to ease lending for bank statement loans, comes as the non-QM sector runs into headwinds.

The newly revealed victims were affected by the previously disclosed cyberattack, which went undetected for 41 days between September and December.

StellarFi, Lamine Zarrad’s new startup, covers consumers' utility and other bills when they hit a cash-flow crunch. It then reports their repayments to the credit bureaus.

UpEquity reportedly saw its growth projections decimated by the cooling refinance market and terminated positions in anticipation of a tepid fundraising environment.

The new product is an extension of its FraudGuard offering for the first lien mortgage market.

The conflicting analyses of automated valuation models highlight a challenge lenders could face in deciding whether to use them to determine racial disparities in home evaluations.