Lenders granted some leeway to initiate foreclosures

Mortgage lenders will soon be able to initiate foreclosure proceedings against homeowners who are 120 days behind on their mortgage payments. Mortgage lenders will soon have more leeway to initiate foreclosure proceedings against homeowners who are 120 days behind on their mortgage payments, but only in cases where borrowers have been given the chance to … Read more

Lenders who rely on AI, algorithms could face new legal risks

In a move that could pose challenges for lenders that employ artificial intelligence and algorithms to evaluate borrowers, federal housing officials are moving to rescind policies put in place last year by the Trump administration to protect lenders and other businesses from claims of inadvertent discrimination. Marcia Fudge Housing and Urban Development Secretary Marcia Fudge … Read more

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