Tuesday, June 30, 2020

What a crock of BS

Why credit reporting matters in formulating policy during COVID-19 response and recovery

Two months from now, about 200 million people will be out of jobs due to the economic effects of the coronavirus (COVID-19). The disruption of supply chains and reduction in demand are impacting businesses’ cash flows and profitability—in some cases permanently. To avert a possible credit freeze, regulators across the globe have introduced unprecedented financial measures, such as moratoria on credit repayments and extension of past-due days. Many have also published directives mandating credit providers to stop reporting negative data.

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Thursday, June 25, 2020

Discover Bank gets another Outstanding on CRA assessment

This is all well and good, but what if anything has Discover or Matt Parks done to address the multitude of individuals in these target areas that do not qualify for loans based on credit scoring criteria…nada

Discover Bank gets another Outstanding on CRA assessment

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Wednesday, June 24, 2020

Qwest Review

#qwestreview #testimonial #creditrepair #creditscores #mortgage #mortgagecredit

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Qwest Review

#qwestreview #testimonial #creditrepair #creditscores #mortgage #mortgagecredit

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Tuesday, June 23, 2020

CFPB complaints spiked by 31% in first months of 2020 as Americans sought coronavirus relief

Consumer complaints to the Consumer Financial Protection Bureau rose 31% in the first five months of 2020, compared with the same period last year, with many complaints specifically mentioning the coronavirus pandemic.

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Thursday, June 18, 2020

Nationwide caps mortgage lending due to Virus

The Nationwide will lower its ceiling for mortgage lending to new customers in response to the coronavirus crisis.

It said the change, from Thursday, was due to “these unprecedented times and an uncertain mortgage market”. First-time buyers are likely to be the most significantly affected because they often have smaller amounts saved to get on the property ladder.

Nationwide has reduced the proportion of a home’s value that is willing to lend from 95% to 85%.

Here is how the UK Mortgage market is adjusting to the financial impact of COVID-19

#mortgage #ukmortgage #covid19 #impactofcovid

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Wednesday, June 17, 2020

Credit Score Need Help

#creditrepair #creditscores #credithelp #mortgage #mortgagecredit

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Tuesday, June 16, 2020

Mortgage Rates Slightly Higher, But Still Near All-Time Lows

Mortgage rates were slightly higher today for the average lender. Additionally, some lenders bumped rates a bit in the middle of the day in response to weakness in the bond market. That weakness is increasingly tied to broad movement playing out across markets as they respond to coronavirus implications.

With several states seeing rising numbers of cases, stocks and rates (via the bond market) moved lower in unison in pre-market trading. This is what allowed mortgage rates to begin the day relatively close to last week’s all-time lows. As the day progressed, the trend shifted toward modestly higher rates and higher stock prices (i.e. risk tolerance improved after investors began the day cautiously).

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Wednesday, June 10, 2020

Credit Score Outta Shape

#creditrepair #creditscores #credithelp #mortgage #mortgagecredit #realestate

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Tuesday, June 9, 2020

Mortgage Rates Starting Strong This Week

After moving higher at a fairly quick pace last by last Friday, mortgage rates are off to a better start this week. Rates remain noticeably higher versus the best recent levels, seen on June 1st and 2nd, but the average lender offered slightly lower rates this morning and then ended up offering a mid-day price improvement as well.

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Thursday, June 4, 2020

The average mortgage interest rate by state, credit score, year, and loan type

Mortgage interest rates are always changing, and there are a lot of factors that can sway your interest rate. While some of them are personal factors you have control over, and some aren’t, it’s important to know what your interest rate could look like as you start the getting a home loan.

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