In a move aimed at deterring scrutiny from the Justice Department, Wells Fargo –the largest home loan lender in the United States – has raised the minimum credit score requirements for Federal Housing Administration (FHA) loans. In 2014, Wells Fargo had lowered credit score requirements to 600. Now borrowers will need to have a minimum […]
Less than a month ago the Department of Justice and Consumer Finance Protection Bureau pledged to work in cooperation to fight what they saw as a resurgence of redlining cases. It seems that they have kept their promise. In a recently released consent order, the DOJ and CFPB have ordered Hudson City Savings Bank – […]
Fair Lending Regression Analysis: Some Frequently Asked Questions Whether you use regression analysis in your fair lending monitoring program or you are thinking about using it, a few regression related questions are asked regularly. This blog will discuss four of the more popular questions. What data do I need? Depending on whether you are going […]