S. 2155 Amendment Boon for Credit Bureaus
An amendment proposed to the bill to overhaul the Dodd-Frank Wall Street Reform and Consumer Protection Act would prohibit lawsuits against the credit bureaus.
Consumer Bankruptcies Rise Last Month
More consumers resorted to bankruptcy last month than in the first month of the year, though a year-over-year decline was reported.
Home Lenders More Restrictive Last Month
The ability for prospective borrowers to qualify for a single-family loan was more elusive last month, and jumbo credit tightening led the contraction.
Some Credit Scores Rise After Changes to Reporting
Changes to the reporting of public records on credit bureaus last year have begun to yield improvements to credit scores for some consumers.
Trade Group Chief Apologizes to Quicken Loans
The president of a state mortgage trade group has apologized to Quicken Loans Inc. for statements he was quoted as making for a news story about discrimination.
Refi Share Surges as Lenders Relax Requirements
Last month saw a significant surge in refinance share. While loan-to-value ratios tightened, other metrics were more flexible. Turn times have sped up over the past year.
MBA Disputes Mortgage Discrimination Analysis
A analysis of the rate some minorities are turned down for a home loan versus their white counterparts reflects badly on lenders. So one trade group has retorted.
Jumbo Out Front of Loosening in Mortgage Credit
Credit conditions in home lending relaxed last month to the most accommodative levels since the financial crisis. The loosening, led by jumbo, came just one month after contracting to the tightest level in five months.
Residential Lending Demand Weakens at Banks
Demand for residential loans at the nation's banks has weakened over the past three months. Meanwhile, credit standards on most residential products were mostly unchanged.
Another Mortgage Insurer Tightens DTI Requirements
Following the lead of two of its peers, another mortgage insurance company has released more restrictive requirements for loans with high debt-to-income ratios.