HousingWire Daily James Kleimann on FICO, nCINO, Rocket and more
Jun 26, 2025
James Kleimann, Managing Editor at HousingWire, dives into the latest mortgage lending updates. He talks about FICO's new scoring model that includes buy now, pay later services, particularly affecting younger borrowers. The conversation touches on the indictment of nCINO's CMO for grand larceny, raising questions about trust in finance. Rocket's entry into the bridge loan market is discussed, alongside challenges related to housing affordability and the impacts of rising mortgage rates for buyers. Finally, the talk shifts to the hurdles of job seeking in an AI-driven economy.
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FICO Integrates Buy Now, Pay Later
- FICO is finally including buy now, pay later debt in credit scoring models, which affects younger consumers more.
- This inclusion may impact mortgage qualification for borrowers with high debt-to-income ratios.
nCino CMO Alleged Grand Larceny
- The nCino CMO was indicted for allegedly stealing $6 million from former employers through complex fraud schemes.
- This is surprising and concerning for a company serving banking clients and safeguarding financial data.
Rocket Introduces Bridge Loans
- Rocket launched bridge loans late compared to competitors but fills an important niche for timing mismatches in home sales and purchases.
- Bridge loans are useful but unlikely to become a core lending product for Rocket.