Trends in Credit Underwriting – Freddie Addresses Lack of Scores; M&A in the Appraisal Biz

Posted To: Pipeline Press

This week involves a fair amount of cross-country travel for me (California, Washington DC, Florida, and Utah), and as it turns out Wells Fargo is the first major US bank to roll out card-less ATMs across the country, allowing customers to withdraw money using their smartphone and a code. (Yes, another code to remember.) Do you think using an LOS (loan origination system) will become that simple? Probably not. If you want the current thoughts on LOS preparedness for digital mortgages, STRATMOR did a write up . What’s new with the credit decision? June is three months away, at which time Freddie Mac will allow automated underwriting of borrowers who lack credit scores but have other financial records such as payment references, including records showing timely housing payments. “Freddie Mac…(read more)

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Source: Mortgage News Daily

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