Wealthier Americans mean a bigger bond market

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Items Tagged with 'FICO'

ARTICLES

Even credit-worthy borrowers struggle to get a mortgage

Regulations, credit and affordability challenges persist
Trey Garrison
The national homeownership rate continues to decline, and many say that it’s only going to get worse because of tighter lending standards, burdensome regulations that create lender uncertainty and affordability challenges.
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Redfin: Finding balance in mortgage credit standards

Not too tight or too loose
Brena Swanson
Before the financial crisis, the average FICO score hovered near 708. During the crisis, in 2007, the average came in around 693. Now in 2014, the average FICO is much higher, posting an average of 744 for Fannie and 742 from Freddie. So what is the perfect balance?
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NAR applauds FICO update

Continues to support the credit box widening
Brena Swanson
The National Association of Realtors applauded FICO’s new FICO Score 9 as a way to assess consumer collection information. "NAR will continue to support efforts to broaden access to credit for qualified homebuyers," NAR President Steve Brown said.
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FICO’s latest update draws VantageScore ire

New product is a "competitive response"
Brena Swanson
FICO introduced its new FICO Score 9 as a way to assess consumer collection information. Although its close competitor VantageScore was quick note that technology is similar to its own product released back in March.
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Wells Fargo loosens jumbo mortgage standards

Attempts to offset decline in originations
Brena Swanson
Wells Fargo has reduced some of its standards for high-priced home loans in order to combat the industry-wide plummet in mortgage volume.
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Moving from renting to homeownership could get easier

Study shows benefits of adding renting into FICO scores
Brena Swanson
In good news for borrowers struggling to get a mortgage due to their poor credit score, mortgage lenders might start considering rent payment history in credit scores. A new study shows that this could be the key difference for future homeowners.
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Freddie Mac: 3 ways to improve your credit score right now

Next year's homebuyers need to start today
Jacob Gaffney
So signs point to a gradual loosening of credit standards for potential mortgage borrowers, but most people still think they won’t qualify, which is a large part of the reason people aren't trying to get a mortgage in the first place.
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Undisclosed debt notification system gets stronger

Advantage Credit now uses all three credit bureaus
Brena Swanson
Advantage Credit announced its Undisclosed Debt Notification service now utilizes data from all three credit bureaus, helping prevent last-minute surprises on a borrower's credit profile before closing a loan.
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San Francisco boasts highest credit risk spread

Each market wields its own risk
Brena Swanson
Every market bodes a different credit risk, and a new product from Collateral Analytics shows just how different each area can be. Coming in on top, San Francisco ranks as number one for the highest credit risk spread.
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Securitized mortgage risk growing as lending practices degrade

Political pressure to lower standards increases
Trey Garrison
The risk rate for securitized agency mortgages is worsening and lending practices are becoming less safe.
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