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Credit News

News About: FICO | VantageScore | Equifax | Experian | TransUnion | Nextgen

Last Updated Wednesday, April 23, 2014 05:06 PM Central

Residential Down Payments Diminish
As home lenders respond to weaker market demand by easing requirements, down payments are dropping and credit scores are deteriorating.

Closing Rate Rises to Recent High
Last month's closing rate for home loans was the lowest since at least 2011. Loan production employees cut the time it takes to close a loan for the second consecutive month.

Jumbo Lending Grows as Low Balance Business Subsides
A minor improvement last month brought to four the number of consecutive months that credit conditions in the business of home financing have improved. Jumbo activity is growing as low-end financing retreats.

Bankruptcies Rise 3 Months in a Row
Bankruptcy case volume was up more than a quarter in a single month and has deteriorated for three consecutive months.

FHA Share Drives Dip in Mortgage Risk
A subtle shift in market share away from government-insured business had a positive effect on the overall risk for new purchase financing.

Older Borrowers Have Higher Credit Scores
Studies have found that older consumers have better credit scores than their younger counterparts, and student loans are a factors in the disparity.

New Low for FHA Credit Scores
Credit score requirements on government-insured closings fell to the lowest level in at least two-and-a-half years. Meanwhile, originators cut five days off the amount of time it took to close a loan to finance a home purchase -- helping to push the closing rate on purchase loans to the highest level since at least 2011.

Nonprime Borrowers Finding More Options
As weakening demand for mortgages has recently driven down anticipated originations, lenders are making it easier for nonprime borrowers to qualify.

Guidelines Improved at Radian
Radian Guaranty Inc. is making several changes to its guidelines that include new jumbo lending options, rate premiums that accommodate Qualified Mortgage requirements and one-time closings for construction-to-permanent loans.

3/1 ARM Offerings Diminish
In response to new regulations from the Consumer Financial Protection Bureau, lenders are moving away from 3/1 adjustable-rate mortgages to loans that don't adjust for at least five years.

Credit News | Bankruptcy Statistics | Credit Score Statistics
Credit scores, bureaus & technology. Bankruptcty activity. Credit-related lawsuits, announcements and coverage of F a i r Isaac, E q u i f a x, E x p e r i a n, F I C O, V a n t a g e Score & T r a n s Union.

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Bankruptcy Statistics

Credit Reporting Litigation
Activity in credit-related lawsuits and settlements from 2007 through third-quarter 2013.

Consumer Bankruptcy Litigation
Activity in consumer bankruptcy cases from 2007 through third-quarter 2013.

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