News & Analysis as of

Credit Reports Underwriting

Goodwin

Traps for the Unwary: Using Alternative Credit Data to Expand Credit Access to LMI Individuals and Underrepresented Communities

Goodwin on

Traditional credit underwriting methods, which are generally based on credit reports, have not always successfully captured the full picture of a borrower’s ability to repay. It is estimated that more than 45 million US...more

Goodwin

The CFPB Proposal to Remove Medical Debt from Credit Report

Goodwin on

​​​​​​​The Consumer Financial Protection Bureau (CFPB) is moving forward with a rulemaking proposal to change the process of reporting medical debt on consumer credit reports. Specifically, the rulemaking proposal the Bureau...more

Eversheds Sutherland (US) LLP

CFPB proposal signals a dramatic expansion of the Fair Credit Reporting Act to data brokers

On September 15, 2023, the Consumer Financial Protection Bureau (CFPB) published an outline of expansive rulemaking proposals to modernize the coverage of the Fair Credit Reporting Act (FCRA) to include data brokers, data...more

American Conference Institute (ACI)

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

Carlton Fields

Jump in Credit Scores Means Dip in Underwriting Predictability

Carlton Fields on

Underwriters that rely on popular credit-scoring models like FICO and VantageScore to assess risk may have noticed that some consumer credit scores jumped recently. The nationwide credit reporting agencies, Equifax Inc.,...more

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