Most Can Raise Their Credit Scores
The common wisdom is that would-be homebuyers with lower credit scores benefit the most from improving them. But that’s not the case, says a new survey.
Mediocre Credit Adds Hundreds to Buyer’s Monthly Housing Costs
It’s not just ability to pay that helps knock less-well-off buyers out of the housing market as prices and mortgage interest rates climb through the roof.
Test Your Knowledge of Credit Scores
When it comes to credit scores, low-income folks have far less knowledge, according to the results of a recent quiz developed by the Consumer Federation of America and VantageScore. But even high-income respondents didn’t have all the answers.
The Benefits (and Risks) of Using Alternative Data in Credit Underwriting
When compared to traditional credit scores and attributes, cashflow-based metrics appear to predict creditworthiness within the subpopulations at least as well as the traditional metrics.
Odd Lots: Don’t Let Clients Go Radio Silent
An offer can easily disappear if a seller isn’t around to accept or counter it. If you are totally out-of-pocket for days at a time, your wannabe buyer might just move on.
With New CD, Berkshire Bank Looks to Help Minority Entrepreneurs
When Berkshire Bank’s Malia Lazu talks about entrepreneurship, she evokes a kitchen table, the place where family members and friends first talk about investing in the business. For entrepreneurs of color, the wealth gap between whites and people of color in America means these conversations, and the business itself, often never happen.
Americans’ Credit Scores Hit Record High
Millions of Americans have a new record high average FICO score, and that’s positive news for homebuyers, sellers, lenders and the economy overall.
The Millennials’ Struggle for Good Credit
Millennials are finally buying homes and applying for mortgages, with 23 percent of all newly originated mortgage dollars attributed to that generation.
Mortgage Approval Could Be Easier Than You Think
So what does it take to get approved for a mortgage to buy a house this summer, whether you’re a first-timer, planning to move up or downsize? Maybe not all that you think.
Judge May Reject Parts Of Wells Fargo Account Abuse Settlement
A federal judge signaled that he may reject parts of Wells Fargo & Co.’s proposed $142 million settlement with customers for whom it opened millions of unauthorized accounts.
CFPB Fines TransUnion, Equifax For Deceiving Consumers About Credit Scores
The Consumer Financial Protection Bureau (CFPB) took action this week against Equifax and TransUnion for deceiving and luring customers into costly recurring payments and ordered the pair to pay more than $23 million in restitution and penalties.
When Will Fannie And Freddie Switch To A New Credit-Scoring Model?
You probably know that your credit score is a crucial factor in your ability to qualify for a mortgage.
Experian: Loan Terms Hit Record Highs For New, Used Cars
Loan terms are on the rise for both new and used...
