Articles by Justin T. Hilley

FICO tells mortgage servicers to reach out to strategic defaulters

Consumer credit analytics firm FICO [stock FICO][/stock] said mortgage servicers need to take a more proactive approach with borrowers they feel are likely to strategically default on their mortgage. The prevention of future litigation costs, FICO said, is alone worth the effort. "Within the current population, the goal is to spot likely strategic defaulters before a delinquency develops, enabling servicers to intervene early," FICO said Wednesday in a blog post.
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In race to adopt Dodd-Frank, US falls behind on Basel III

The first progress report on the big bank adoption of the Basel Committee on Banking Supervision Basel rules was issued Tuesday. In the report, the committee, which operates under the Bank of International Settlements, finds that the Basel II levels of capital adequacy is largely met by financial institutions in the United States. The European Union, however, is a little further ahead with full adoption.
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Fidelity National Financial 3Q profits down 10.7%

Fidelity National Financial [stock FNF][/stock] reported a third-quarter profit of $74.3 million, or 33 cents a share, down 10.7% from one year ago. Last year's third-quarter income was $83.2 million, or 36 cents a share. The company fell just short of the average analyst estimates of 34 cents a share. Total revenue was $1.24 billion for 3Q, down from $1.37 billion from the year-ago period. Cash flow from operations stood at $66.1 million, up from $21.2 million a year ago.
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The Collingwood Group adds Romano as senior adviser

The Collingwood Group, a Washington-based business advisory firm, named Ray Romano senior adviser. The former Freddie Mac executive vice president and chief credit officer is expected to identify business opportunities for the firm that arise as a result of the housing crisis, the company said Tuesday. Romano brings risk-management expertise and executive leadership for consumer and multifamily mortgage products to The Collingwood Group. Vice Chairman Brian Montgomery said Romano's strengths are highly valuable and needed in today's mortgage market.
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Freddie Mac: Rental housing rises in 2011

Despite the most affordable buying market in decades, households across the country are slowly choosing rentals versus homeownership, signaling a positive economic trajectory for the multifamily sector, according to Freddie Mac’s October 2011 economic outlook report released Monday. In the year ending June 2011, the Census Bureau reported a net increase of 1.4 million households that moved into rental housing, a 4% rise in the number of tenant households. The U.S. homeownership rate fell about 1.5% over the past year, according to Freddie Mac's report.
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