New FICO program reveals credit score to risky borrowers

Is this any way to run a mortgage market?

Here's the right solution

Has the mortgage market turned a corner?

Mortgage lending still below norms and signs point to...
W S

The Ticker

Morgan Stanley could pay $500 million in mortgage pact

Deal with NY AG still in talks
Brena Swanson
Morgan Stanley is in talks to possibly pay about $500 million to settle a probe by New York’s Attorney General Eric Schneiderman into whether the firm misled investors in mortgage bonds that cratered during the financial crisis.
Read More

Six indicted in international, multimillion-dollar mortgage fraud scheme

South Florida banker, title company involved in residential scam
Trey Garrison
Six individuals in Florida and Brazil, including a mortgage banker, were indicted in an international, multimillion-dollar mortgage fraud scheme.
Read More

Fannie Mae integrates Collateral Underwriter with Desktop Underwriter

Also looped with EarlyCheck
Brena Swanson
Collateral Underwriter continues to take shape. In the latest update, Fannie Mae announced it integrated Collateral Underwriter with Desktop Underwriter and EarlyCheck in order to help lenders more effectively manage risk and underwrite stronger loans.
Read More

SunTrust earnings rise in first quarter

Lower expenses offset lower revenue
Brena Swanson
SunTrust experienced a good start to the year, with its first-quarter profit rising thanks to growth in noninterest income. SunTrust posted a fourth-quarter net income of $378 million, or $0.72 per average common diluted share, which included a $145 million mortgage-related legal provision.
Read More

Mass. Appeals Court rules for MERS in mortgage assignment

Latest in a string of court victories
Trey Garrison
The Appeals Court of Massachusetts found in favor of Mortgage Electronic Registration System, Inc. and upheld the validity of its assignment of a mortgage.
Read More

Wells Fargo breached national mortgage settlement

Judge finds bank did not properly evaluate homeowners
Trey Garrison
A federal judge has found that Wells Fargo breached a nationwide 2010 legal settlement involving adjustable-payment mortgages, finding that the bank did not properly judge and evaluate borrowers who applied for help to avoid foreclosures.
Read More

Police arrest man in sexual assault on Arizona Realtor

Man posed as homebuyer at open house
Trey Garrison
Police in Arizona have arrested a suspect in a sexual assault on an Arizona Realtor in March. The man allegedly targeted the Realtor during an open house. Here's how it all went down.
Read More

Homeless man discovers forgotten bank account

Includes enough money for a downpayment on a house
Brena Swanson
After spending years sleeping in a cardboard box, this homeless man can afford to make a downpayment on a house, thanks to a forgotten bank account.
Read More

George Lucas to create massive affordable housing project

Neighbors shut down his original idea
Brena Swanson
George Lucas won’t let his neighbors stop him from his dreams. After shutting down his original attempt to develop his land in California with a studio, Lucas came up with a better plan. This time around, his focus is on helping others find housing.
Read More

Jobless claims rise well above expectations

Weekly jump of 12K not expected
Trey Garrison
Jobless claims were expected to decline last week, but they rose against analyst expectations. Here's where the trouble was.
Read More