Tag Archives: Credit

Household debt has surpassed recession levels, according to the New York Federal Reserve. Mortgage debt proved to be the highest increasing debt factor, going up went up by $147 billion quarterly and $258 billion annually. Total mortgage debt as of Q1 2017 was $8.63 trillion.

Jumbo and Government loans jumped in March, boosting overall credit availability. However, Conforming loans saw a drop of 2.6 percent in that time, driven by increased home prices and rising interest rates.

According to Urban Institute, the FHA has more power to increase credit access. The GSEs do risk-based pricing through their loan-level pricing adjustments. However, the FHA does not do risk-based pricing, and so it has insured borrowers and so it has insured borrowers with less-than-pristine credit. Charging the same fee for those with good credit as those with bad credit has limited credit availability.

As risk is reduced, CoreLogic indicates that home prices have continued to rise. Previously, the CoreLogic Home Price Index (HPI) showed nationwide sales, including distressed sales, jumped 6.9 percent year over year and 0.7 percent month-over-month. Mortgage rates have continued to rise as well, and are anticipated to continue to rise during 2017.

Experian and Finicity, a cloud-based financial data aggregation provider, announced Monday a collaboration that will digitize the mortgage lending process and bring some of the “credit invisible” into view for lenders.

Unmet credit demands of U.S. consumers are partially caused by reluctance of some to even apply for credit. Survey reveals that consumers are generally more pessimistic of future approval rates, influenced by the increase in involuntary account closures. These rose to their highest level since October 2015.

Mortgage credit is up month-over-month thanks to more investors getting into the market and streamlined documentation loans by FHA, one report shows.

Global financial services firm Morgan Stanley is speaking out about the Treasury’s recent announcement of another rake hike—but not in the way you’d expect. Rather than denouncing the ...

CFPB Director Richard Cordray on Monday offered some new and innovative ideas to provide credit to more consumers at Lendit USA Conference in New York.

This Tuesday, a report will be released covering consumer credit information. See what other industry news is scheduled to be released this week.