Tag Archives: Credit

The Consumer Financial Protection Bureau addressed data inaccuracy problems from credit companies so consumers are less likely to experience faults in their report such as already-paid bills showing up as unpaid.

According to the CFPB 26 million Americans are considered invisible to credit agencies. Today, the agency asked for public feedback on utilizing alternative data to evaluate creditworthiness.

Although home prices are continuing their upward climb, mortgage rates continue to hover around three-year lows, but what's the catch to those low rates?

Rates fell a bit lower this week, but buyers did not hurry to take out a mortgage loan. On top of that, mortgage credit has tightened this month, which could be the reason that buyers were unable to purchase a home.

Low credit scores and high student debt are two major obstacles millennials face when applying for a mortgage, but this hopeful generation still dreams of homeownership . . . and some are achieving that dream.

The Federal Housing Administration and Fannie Mae recently launched programs that are designed to open credit to borrowers who would not be able to obtain a mortgage loan under normal circumstances.

The Federal Housing Administration announced Monday a new method that will be used to evaluate the lending practices of FHA-approved lenders and better understand the type of borrowers they are serving.

Banks reported stronger demand for mortgage loans and eased lending standards in a number of categories, suggesting positive growth in the second half of the year, according to the Federal Reserve July 2015 Senior Loan Officer Opinion Survey on Bank Lending Practices.

Recent survey data from Fannie Mae's Economic & Strategic Research group found that many mortgage lenders are still applying credit overlays that are stricter than what Freddie Mac, Fannie Mae, or Ginnie Mae require.

For May, mortgage credit availability experienced an increase, according to the Mortgage Bankers Association (MBA) Mortgage Credit Availability Index (MCAI), a report that analyzes data from Ellie Mae's AllRegs Market Clarity business information tool. According to the index, the MCAI increased 0.5 percent to 122.6 in May.