VantageScore, created in 2006, is a joint venture by the three major credit bureaus (Equifax, Experian, and TransUnion). Will it change your lending process? Possibly. Do government regulations change your lending process? States have trigger lead requirement overlays, over and above what was enacted at the Federal level in March. (Talk to your attorney.) Some states are rumored to be looking at bundling credit report fees, referring to the practice of combining various charges associated with obtaining credit reports into a single, all-inclusive fee, which can “help eliminate hidden costs, improve compliance with regulations, and simplify the pricing structure for consumers and lenders alike.” Some companies, like Birchwood, discuss bundling and transparency. Interest rates are relatively transparent, and on today’s The Big Picture at 3PM ET Chris Bennett of Vice Capital Markets will discuss strategies given shifting rates, geopolitics, and framing hedging given the Fed’s thoughts. (Today’s podcast can be found here and this week’s ‘casts are sponsored by JazzX, the first true end-to-end AI platform built for mortgage. From application to underwriting, JazzX is a new operating model that helps you scale growth, boost productivity, and transform how your team performs. Hear an interview with OFA Group’s Thomas Gaffney on what real problems tokenization solves in mortgage finance today, where it will gain early traction in residential real estate, and how lenders can assess regulatory risk and platform credibility as the market evolves.)
