Those with new credit files used to be considered higher risk than those with an established credit history, but new data from TransUnion finds that is not necessarily true.
Read More »CFPB Issues Latest Insights Report
According to the Consumer Financial Protection Bureau, a new analysis of nearly half a million complaints reveals ongoing challenges, as TransUnion, Experian, and Equifax top the list of complaints.
Read More »Report: Consumer Credit Health Stable
Despite a higher interest rate environment and the ever-present inflation, consumer credit health remains stable.
Read More »As Originations Decline, Consumer Interest in HELOCs Inches Upward
Joe Mellman, SVP and Mortgage Business Leader at TransUnion, said, "Considering that homeowners had a cumulative total of $604 billion in non-mortgage debt, [HELOCs allow homeowners to] use their available home equity to pay off more expensive debt while keeping their existing low interest rate mortgage in place.”
Read More »Fed Hikes Rates by 75 Points; Sixth Increase This Year
Another Federal Open Market Committee Meeting, another rate hike. At the conclusion of the FOMC’s November Meeting, the Committee raised rates by 75 basis points, the fourth consecutive such hike and the sixth of 2022.
Read More »FHFA Approves New Credit Scoring Models for GSEs
“Today's decision will benefit borrowers and the Enterprises, along with maintaining safety and soundness," said Sandra L. Thompson, Director of the FHFA.
Read More »Clarifying Communication Between Debt Collectors and Third-Party Vendors
Attorney Roy Diaz examines the fallout from case of Hunstein v. Preferred Collection & Management Services, regarding whether communication among debt collectors and third-party vendors constitutes a concrete injury for purposes of Article III Standing.
Read More »Average Homeowner Equity Exceeds $233K
Credit bureau TransUnion has released its second quarter Credit Industry Insights Report which highlighted how the number of consumers with credit cards and personal loans has reached record highs, driven by an increase in loans to non-prime consumers. “Consumers are ...
Read More »Alternative Credit Scoring Models Matter
Competition ensures a healthy and productive market. Credit scores are no exception. A new study commissioned by VantageScore Solutions, a consortium of the three credit bureaus (Equifax, Experian, and TransUnion), found that institutional investors with exposure to asset-backed securities (ABS) ...
Read More »Migration is Key Trend Affecting Insurance Carriers
The Great Recession, now 15 years behind us, and its impacts on homeownership and insurance markets are still being felt today. This is according to a new report from the credit bureau TransUnion, who also found that migration patterns are ...
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