After the bill takes effect in March, credit bureaus will still be able to sell trigger leads to a borrower’s current mortgage lender, loan servicer, or any bank or credit union they have an account with. Continue reading
Purchase loan demand eased last week, but rates are expected to keep falling on a new report showing there are more people unemployed than there are job openings for the first time since the pandemic. Continue reading
With 7.24 million Americans out of work in July and payroll growth slowing, the Fed is expected to pivot from fighting inflation to preserving jobs. Continue reading
The tri-merge system is “an anachronism from the days when there were significant disparities in coverage by the credit bureaus,” MBA says in advocating new approach. Continue reading
Driving the revised forecast are expectations for slightly cooler economic growth and hotter inflation, which could mean mortgage rates come down a little more slowly. Continue reading
Homeowners scrambled to refinance last week as mortgage rates dropped to the lowest level in four months, with homebuyer demand also up by double digits from a year ago, according to a weekly survey of lenders by the Mortgage Bankers Association. Mortg… Continue reading
Consumer group say FHFA’s plan to pit VantageScore 4.0 against older FICO Classic score will make “anti-competitive natures of the credit scoring market even worse.” Continue reading
Loopholes in new law mean credit bureaus will still be able to sell applicants’ information to their current lender, servicer or bank — a boon for lenders who also service their own loans. Continue reading
With job market stable and economy chugging along, futures market investors now think the odds of a September rate cut are less than even. Continue reading
Mortgage rates have stabilized and more inventory is coming online, but applications for purchase loans fell by a seasonally adjusted 6 percent last week compared to the week before. Continue reading