“Financial distress can be a vicious cycle,” said Cassandra Happe, Analyst at WalletHub. “People who can’t make payments on their accounts end up damaging their credit scores, which in turn makes it more difficult for them to qualify for the best solutions to their debt.”
Read More »Mortgage Monitor Finds Modest Opportunity in Refi Market
Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.
Read More »Illinois Senate Amends Procedural Rules Impacting Foreclosures
Attorney Robert Deisinger takes a look at a new measure in Illinois to seal foreclosure records that were initiated during the COVID pandemic foreclosure moratoria.
Read More »Veterans Optimistic About Housing Opportunities
Most service members, while realistic about challenges they may face in the current housing landscape, feel a home purchase is ‘within reach’ according to a new survey from Veterans United Home Loans.
Read More »CFPB: Southern Consumers Facing Higher Interest Rates
The CFPB has issued a pair of reports looking at the state of banking in the Southern United States and found that a lack of local access to banking options can make it harder to get competitive interest rates on mortgages, credit cards, or small business loans.
Read More »Underserved Borrowers to Get Leg Up From Fannie Mae
Underwriting processes to be enhanced to now support loans for credit invisible borrowers.
Read More »Credit Scores and Down Payments Reach All-Time Highs
Faced with elevated home prices and stricter credit requirements, borrowers in Q3 placed, on average, higher down payments on their mortgage loans than ever before, according to Bloomberg. Citing a report from ATTOM Data Solutions, Bloomberg reports the median down ...
Read More »Equifax and FICO Announce Strategic Partnership
Equifax and FICO will integrate differentiated data and precision decisioning to help financial institutions optimize interactions with customers.
Read More »Analyzing Millennial Homeowners’ Credit Profiles
A study analyzing the credit profiles of millennnial homeowners and renters revealed some key differences that kept the latter from taking the plunge into buying real estate.
Read More »Another Look at GSE Credit Score Models
What are the four steps proposed by the FHFA to validate and approve the credit score models used by Fannie Mae and Freddie Mac?
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