New York AG is probing Compass over the Anywhere deal

☀️ Good morning! This is Mortgage Nuggets, the email that makes you smarter about the mortgage industry, in 5 minutes or less. Let’s dive in…

1. All 30 of the nation's largest mortgage originators are now using VantageScore 4.0

VantageScore says adoption has reached the top 30 originators in the U.S., just weeks after FHFA, Fannie Mae, Freddie Mac, and FHA formally advanced implementation.

The model can score approximately 94% of U.S. adults — up to 33 million more consumers than traditional scoring methods — by incorporating trended credit data, rent payments, and utility bills. UWM and Newrez have already reported improved eligibility and pricing outcomes for certain borrowers since implementing it.

Classic FICO remains an approved option, and FICO 10T is still expected to be added to the framework. But the pace of VantageScore adoption is moving faster than most expected following the April implementation announcement.

2. New York AG is probing Compass over the Anywhere deal

New York Attorney General Letitia James has reached out to competing brokerages requesting information about Compass's $1.6 billion acquisition of Anywhere Real Estate, which closed in January after clearing the federal HSR waiting period without DOJ or FTC action.

The concern: combined market share in some markets — including Manhattan and Newport Beach — exceeds 80%, levels that analysts had flagged as above presumptively illegal antitrust thresholds.

Congressional Democrats had already pressured the DOJ to take a harder look before the deal closed. Both Compass and the AG's office declined to comment.

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3. More Nuggets

🚨 FTC wins court order to shut down alleged mortgage relief scheme. (FTC)

📊 CMBS delinquencies rise to 7.28% in Q1. (MBA)

🏘️ Cotality reports 0.3% annual home appreciation in April. (BusinessWire)

🧑‍⚖️ Plaintiffs’ attorney offers to exit loanDepot class action over conflict of interest. (HW)

📈 Co-buying is rising — are you ready for the paperwork? (NMP)

4. Down payments slip to 15% as buyers preserve cash

The median down payment fell to 15% of purchase price in March 2026, down from 16.1% a year earlier, with buyers putting down an average of $64,000 — a 1.5% year-over-year decline.

Redfin says buyers are prioritizing liquidity as monthly housing costs stay high and economic uncertainty lingers.

The drop reflects a less competitive market — fewer bidding wars, more inventory, and slower price growth mean buyers face less pressure to pad offers with large down payments. Low-down-payment programs are also gaining traction.

5. Two FOIA lawsuits filed to force CFPB to release records on Rocket and Veterans United

The Guardian is suing the CFPB to obtain records from its four-year investigation into Rocket Homes — a probe that ended in a federal lawsuit in late 2024 and was quickly dropped by the Trump administration.

The newspaper says the CFPB acknowledged its March FOIA request, cited a backlog, and never followed up. Separately, Hagens Berman — the law firm behind the consumer RESPA suits against both Rocket and Veterans United — is suing to force the CFPB to release any records related to its alleged investigation of Veterans United.

The CFPB refused to confirm or deny whether such records even exist, using a legal tactic known as a Glomar response. Hagens Berman says the response contained "no substantive reasoning."

☀️ You’re all caught up. See you on Monday!

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