Mortgage Closing Rate Improves
A bigger share of home loan applications closed last month -- especially compared to a year ago. Purchase and conventional loans had the best closing rate.
10-Year Low for Consumer Bankruptcy Filings
Last year, there were fewer consumer bankruptcies filed than in any year during the last decade. Monthly filings, though, rose from a year earlier.
4 Consecutive Months of Easing Mortgage Credit
Credit conditions in residential real estate finance have loosened for four consecutive months. Jumbo lending eased most last month.
Another Credit Bureau Settlement Reached
Just days after a settlement was disclosed by one provider of credit services, another settlement has been revealed with another credit services provider.
TransUnion Reaches Advertising Settlement
TransUnion has revealed that it has agreed to settle charges related to the marketing and sale of its consumer reports and credit scores.
Election Not Yet Impacted Mortgage Metrics
Monthly metrics for mortgage originations have yet to reflect the impact from the presidential election -- with the closing rate deteriorating, turnaround slowing and refinance share holding.
Mortgage Risk Lower Over Past Year
Over the past year, average loan-to-value ratios and debt-to-income ratios are lower on mortgage originations, as is the accompanying risk.
Mortgage Demand Falls, Credit Standards Hold
As expected, the recent rise in rates is having a negative impact on demand for home financing -- especially refinances. Thus far, credit easing remains elusive.
Mortgage Risk Falls on New Originations
A new index that measures the risk of default on new home-loan originations indicates that mortgage investors have seen risk fall.
Consumer Bankruptcies Down 3 Months in Row
In addition to falling from a month earlier and a year earlier, the number of consumer bankruptcy filings has retreated for three consecutive months.