Unclean Hands: FICO to Exclude Certain Negative Information Boosting The Pool of Eligible ‘Credit-Worthy’ Mortgage Recipients

“It’s going to make someone who has poor credit look better than they should,” said John Ulzheimer, a credit specialist and former manager at Experian and credit-score creator FICO. “Just because the lien or judgment information has been removed and someone’s score has improved doesn’t mean they’ll magically become a better credit risk.” ~ Credit Reports to … Read more

Concerns About Riskier Mortgages are Sprouting While Others See it as Welcome Change

Guy Cecala, publisher of Inside Mortgage Finance, says… “Such fears are unfounded, noting Federal Reserve officials have complained that FHA loan standards have been too rigorous.” “The non-banks are bringing a welcome change” Bill Emerson, vice chairman of Quicken Loans, the largest non-bank lender, says… “I don’t have any concerns about” a potential increase in … Read more

When It Comes to Wall Street, Preet Bharara Is No Hero

When It Comes to Wall Street, Preet Bharara Is No Hero by Jesse Eisinger ProPublica After his election in 1968, President Richard Nixon asked Robert Morgenthau, the US Attorney for the Southern District of New York, to resign. Morgenthau refused to leave voluntarily, saying it degraded the office to treat it as a patronage position. … Read more

U.S. Home Flipping Increases In 2016 To A 10-Year High

U.S. Home Flipping Increases 3 Percent In 2016 To A 10-Year High This should turn out well… IRVINE, Calif. – March 9, 2017 — ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its 2016 Year-End U.S. Home Flipping Report, which shows that 193,009 single family homes and condos were flipped … Read more

New York City Rents Collapsing for Every Apartment Size Over Too Much Inventory

New York City Rents Collapsing for Every Apartment Size Over Too Much Inventory Landlords offer concessions on 26% of all new leases Studios have their biggest rent drop since at least 2012 Rents fell last month for Manhattan apartments of all sizes, the first across-the-board price decline in at least four years, as a construction … Read more

The Transferring of Servicing Rights to Avoid Reviewing Complete Modification Applications

The Transferring of Servicing Rights to Avoid Reviewing Complete Modification Applications The Rodriguez Law Group, Inc After years of litigating against alleged lenders, investors, servicers, and foreclosure trustee’s we are starting to see a clear trend of the servicing rights being transferred upon receiving a complete loan modification application. What is an alleged lender – … Read more