Despite the election being 18 months away, the campaign is already in full swing. Recently, one candidate for the White House actually said something that gives us at HousingWire a little hope for the next 18 months, however right or wrong his statement may be.
Despite the level of student loan debt rising to well above $1 trillion, young buyers are not being inhibited from obtaining a mortgage due to their debt, according to a new report from TransUnion. In fact, not only are younger consumers with student debt able to get a mortgage, they are also quite adept at making their payments as well.
One thing that hasn’t been underreported in housing in 2014 is the crushing amount of student debt out there, but Nick Timiraos looks into just how much it impacts housing and mortgage finance in the Wall Street Journal.
The student debt crisis is a hot topic right now in Washington D.C. Following President Barack Obama's executive order Monday, Senator Elizabeth Warren’s, D-Mass., student debt legislation could also see more movement in coming days.
Once again, reports are streaming in about how student debt is ruining the housing recovery. But this time, the Consumer Financial Protection Bureau weighed in on one of the biggest factors blocking household formation.
“Nearly every part of the real estate process has been transformed by technology except for home financing. Getting a mortgage is still manual, frustrating and confusing,” said Nick Stamos, CEO and founder of Sindeo..
Legacy insurers are headed toward solid ground, with some experiencing their first full year of profitability since the housing crash. New entrants, meanwhile, are raising capital, entering the fray and gaining market share. Read More
First, I’m not suggesting totally yanking FICO or Vantage Scores or anything like that. What I am recommending is the adoption of other models that would equally, or even more effectively, determine who can repay a loan. Read More