Bankruptcy Filings Dip
Fewer American consumers resorted to bankruptcy courts last month, though the decline was minimal. A more substantial drop was recorded versus a year ago.
Credit Bureau Changes Expected to Help 200 Million
Changes that have been implemented by the country's credit bureaus are expected to benefit an estimated 200 million U.S. consumers.
Carrington Mortgage Sees Biggest Rise in Complaints
Complaints filed against mortgage companies were up, though not as much as in other financial services sectors. Carrington Holding Company LLC's mortgage unit saw the biggest increase.
Mortgage Credit Standards Ease, Demand Strengthens
Credit standards at home lenders have eased recently, with larger lenders reporting more loosening than smaller ones. While demand has recently improved, fewer lenders are optimistic that demand will increase in the near future.
Mortgage Lenders More Flexible Than Year Ago
Lenders took more risks last month based on credit scores, though other underwriting metrics didn't ease. But compared to 12 months prior, two metrics were looser.
Mortgage Credit Conditions Best in 6 Years
A key measure of the availability of credit in the residential lending arena stands at it's highest level in roughly six years.
Consumer Bankruptcies at Lowest Level in 6 Months
Fewer consumers resorted to bankruptcy last month, with monthly filings falling to their lowest level in six months.
Fewer Complaints Against Mortgage Firms
A report on the volume of complaints lodged against mortgage firms indicates that the home lending industry is making progress.
Record High Closing Rate on Home Loans
The closing rate on mortgage transactions reached two thirds last month -- the best it's ever been since the data became available.
HELOC Originations Slip Despite Overall Rise
Although quarterly mortgage production has been on the rise, the same can't be said for home-secured credit lines.