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CIC Mortgage Credit

February 10th Update! 2 Processes began and Another Foreclosure stopped dead.

20120209-01 which are both Notary Presentments made to mortgage companies offering to deal with existing mortgages in two different ways. One ...

A decade after housing bust, mortgage industry on shaky ground, experts warn

"If these firms go out of business, the mortgage market shuts down, and that has dire Implications for the overall health of the economy," says Richard Stanton, professor of finance and Kingsford Capital Management Chair in Business at Haas. Stanton authored the Brookings paper, " Liquidity Crises in the Mortgage Market ," with Nancy Wallace, the Lisle and Roslyn Payne Chair in Real Estate Capital Markets and chair of the Haas Real Estate Group. You Suk Kim, Steven M. Laufer, and Karen Pence of the Federal Reserve Board were coauthors.

Bank regulation fueled boom in nonbank lenders

During the housing bust, nonbank lenders failed in droves as home prices fell and borrowers stopped making payments, fueling a wider financial crisis. Yet when banks dramatically cut back home loans after the crisis, it was nonbank mortgage companies that stepped into the breach. Now, nonbanks are a larger force in residential lending than ever. In 2016, they accounted for half of all mortgages, up from 20 percent in 2007, the Brookings Institution paper notes. Their share of mortgages with explicit government backing is even higher: nonbanks originate about 75 percent of loans guaranteed by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs (VA).

Beyond Credit Scoring: TransUnion and Experian Signal a Credible Alternative for Identity and Fraud Management

Somewhat lost in the hiatus of the run-up to 25th May 2018, being the birthday of GDPR, were two really interesting announcements; namely Experian named as a top identity vendor in Forrester’s “Top Trends Shaping Identity Verification (IDV) in 2018” Report, and TransUnion’s acquisition of iovation , a global leader in device identity and consumer authentication solutions.

These two companies, along with the recently maligned Equifax comprise the top three credit bureaus in the United States, with combined revenues approaching $10 billion. Credit bureaus are, at base, personal information brokers. They gather account information from various creditors and use that data to provide consumer histories, and credit scores for a fee. In the U.S. the generic name for such an operation is “consumer reporting agency;” in the UK it is a “credit reporting body”; “Credit Information Company” (CIC) in Australia; and “Special Accessing Entity” in the Philippines.