United Guaranty Expands Guidelines
Underwriting requirements for loan-to-value ratios, credit scores and loan amounts were all expanded at United Guaranty Corp.

The Greensboro, N.C.-based firm issued a bulletin indicating that enhancements to requirements for its Performance Premium program combines general underwriting requirements with automated risk tools.

Loans that are not currently eligible for mortgage insurance coverage might now qualify.
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MGIC Updates Underwriting Requirements
Changes to MGIC's underwriting guidelines impact adjustable-rate mortgages, condominiums and refinances. The mortgage insurance company also revised its requirements for co-borrowers who use non-traditional credit.

Consumer Bankruptcies Fall in 2011
Last year, 11 percent fewer consumers filed bankruptcy than in 2010. Impacting the decline was deleveraging by U.S. households.

Bankruptcy Filings Fall Again
Consumer bankruptcies were down for the fifth consecutive month and have tumbled from a year ago. Even payment-plan bankruptcies, which have increased twice during the past five months, were lower in November.

Millions Could Join the Ranks of Those With Credit Scores
Millions of consumers who currently have no credit scores could become prospective mortgage borrowers as the credit bureaus start considering non-traditional files in their reports. But consumer groups worry that the changes will reveal delinquent payments that have thus far stayed under the radar.

Minnesota Bankruptcy Case Impacted 2nd Lien Holders
It was a Chapter 13 bankruptcy case where the second mortgage lender didn't object to a plan where the second lien was stripped from the property. But when the bankruptcy judge didn't go for the plan, the borrower appealed -- and won.

More Consumers Resort to Chapter 13 Bankruptcy
Although total consumer bankruptcies were lower last month, more chapter 13 filings were made.

Credit Scores Highest in Wisconsin, Worst in Texas
Four cities in Wisconsin were among the locales with the highest credit scores. Texas, on the other hand, had four of the worst-ranking cities.

New Credit Risk Scoring Model in Works
An agreement has been reached to create a new credit scoring model with deeper insight into consumer credit risk.

Borrowers Underestimate Home Values, Credit Scores
An analysis of existing and prospective borrowers found that they often underestimate their own credentials. The report identified a trend towards an increased emphasis on lower payments as opposed to lower rates or shorter terms.