Originations

The Federal Reserve released additional information about its periodic review of its monetary policy strategy, tools and communications framework; TD Bank Group announced Michelle Myers will succeed Anita O'Dell as global chief auditor; Provident Financial Services will expand its commercial lending team; and more in this week's banking news roundup.

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

U.S. military veterans and active duty personnel have four mortgage industry participants looking to enhance their ability to take advantage of their benefits.

The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.

Drey Roberts and his team move to de novo warehouse lender Primis Bank as former home Independent Bank makes a strategic exit.

The lawmaker said leadership on the House Financial Services Committee is supportive of the legislation, which would limit the ability of credit-reporting agencies to sell homebuyer information to financial service providers.

Freddie Mac also indicated that it will be proceeding with its closely watched second-lien pilot, while Fannie reported gains in serving credit invisible borrowers.

Positive feedback from participants in existing programs led to the decision to expand them in order to assist more lenders.

While the recent upward movement has dampened borrowing activity, housing researchers reported encouraging signs for business this fall.

After NYCB streamlined its branch operations under the Flagstar name, the publicly traded company will begin trading under a new stock ticker symbol in late October.