Home equity could be ‘viable solution to ease debt pressures,’ experts say as mortgage balances nationwide grew in the third quarter according to TransUnion.
Read More »Senators Call Upon Credit Reporting Agencies to Protect Servicemembers
In a letter to TransUnion, Experian, and Equifax, a coalition of Senators led by Sharrod Brown are urging the big three credit agencies to ensure servicemembers receive free credit monitoring services and free access to credit reports.
Read More »Senators Call on FHFA to Abandon Bi-Merge Credit Proposal
In a letter to the FHFA, a coalition of eight U.S. Senators are asking the Agency to implement reforms to credit scoring models that could impact access to creditworthy borrowers. Click through to read arguments from both sides of the issue.
Read More »Examining FHFA’s Transition to a Bi-Merge Credit Analysis
A new report from TransUnion explores FHFA’s proposal to utilize two instead of three credit reports, and the significant impact such a move would have on consumers, mortgage lenders, and the broader economy.
Read More »Fed Takes Action Against TransUnion for Illegal Rental Background Checks
The CFPB and FTC have issued a joint consent order requiring the credit reporting conglomerate to pay $23 million in fines for tenant screening and security freeze failures.
Read More »Freddie Mac: If Labor Market Slows, Delinquency Rates Could Rise
“Overall credit performance remains solid for higher credit quality borrowers, but that is in an economy with unemployment rates below 4%,” Freddie Mac said in their report.
Read More »Most Renters’ Payments Not Being Reported to Credit Bureaus
Most property managers are not reporting payments to the three credit bureaus, and a survey found that reporting this data would likely boost on-time payments as well.
Read More »Credit Usage Up YoY Across the Board
All types of credit, mortgages and credit cards included, were up in Q1 of 2023.
Read More »New-to-Credit Consumers May Be Better Risk Than Previously Thought
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 »