Articles Tagged with ''Credit score''

Delinquencies Rise at a Slower Rate, Says TransUnion

The rate of mortgage borrowers 60 or more days late increased for the 10th straight quarter and is at an all-time high of 5.81% in Q209, according to market research by credit bureau TransUnion. The rate of delinquencies is up 11.3% from Q109's rate, according to TransUnion's study of a random selection of 27m credit files from its national consumer database. The increase is lower, however, than the 16% increase between Q408 and Q109. Mortgage delinquencies are up 65% year over year, TransUnion added.
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Fannie Loses $14.8bn, Needs $10.7bn

Government-sponsored enterprise (GSE) Fannie Mae [stock FNM][/stock] said it needs a $10.7bn injection of cash from the Treasury Department to stay afloat after losing $14.8bn in Q209. The Q209 loss, about $2.67 per share, is less than the $23.2bn ($4.09 per share) that Fannie had in Q109. Fannie had $18.8bn in credit-related expenses, which was down from $20.9bn in Q109. The provision for credit losses was $18.2bn, but only $4.8bn of that was for net charge-offs. The remaining $13.4bn went toward building loss reserves, as Fannie expects continued losses.
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Radian Profits Soar, Q209 Underwriting Strengthens

Philadelphia-based mortgage insurer Radian Group [stock RDN][/stock] earned $231.9m ($2.82 per share) in Q209, up from a loss of $392.5m in Q208. Mortgage insurance claims of $167.7m were lower than projections. However, Radian said it expects to pay between $275 and $300m in claims during Q309. Radian said government programs to stem foreclosures are helping Radian’s bottom line.
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Wrecked Credit? No Problem!

We've all had one at some point: a lemon of a car that turns out to be too good of a deal to be true, that always seems to be in need of a repair and that -- we later discover -- survived some massive accident in its history that somehow miraculously escaped reporting and isn't tied to the vehicle identification number.
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Online Lending Heats Up: Mortgagebot

A study released today finds online lending practices are growing, as is the credit-worthiness of online borrowers, according to Mortgagebot's Benchmarks 2009 report. Approximately 40% of lenders now take more than 25% of their applications through an online channel, according to the Benchmarks report. That's up sharply from the mere 1% who took applications via the web at the start of the decade.
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FICO Scores 101 Launches

The financial climate born of the recent credit crisis shines particular emphasis on the consideration of credit as a critical component for both lenders and consumers, as well as the need for tools to teach the ins-and-outs of credit. AllRegs, a publisher of industry guidelines, and analytics technology provider, FICO, released Thursday a new online course designed to do just that:  teach credit decision makers the fundamentals of FICO scores.
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New FICO Score for Mortgage Lenders

Fair Isaac Corp. [stock FIC][/stock] introduced Wednesday a new FICO industry score, BEACON Mortgage Score, specifically designed to help mortgage lenders make the best possible risk decisions when addressing both current homeowners and those aspiring to own, the company said in a press release. Equifax plans to make the new score available in April to mortgage lenders and servicers for use in their loan servicing decisions including mortgage loan modifications.
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Firm Cries Foul on Credit Reporting, Mortgage Loans

Nearly one in two borrowers is plagued by medical collection accounts that are lowering their credit scores and limiting their ability to get a mortgage, said mortgage and credit expert Rodney Anderson, of Rodney Anderson Lending Services, in a press release Monday.
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Company Touts Mortgage Portfolio Analytics Service

For investors and servicers looking to manage collateral risk, nothing is more important in the current market than forward analytics that can help develop a sense of future loan performance; Garden Grove, Calif.-based Informative Research said Thursday that it had rolled out a suite of portfolio credit review analytic tools for mortgage investors and servicers designed to provide a forward-looking view.
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