Subprime borrowers help drive mortgage growth
Moderating interest rates in the first quarter led to changing fortunes from 2022 and 2023, a Transunion report said.
Credit
Credit portfolio managers brace for higher defaults
Transportation, automotive, healthcare, and commercial real estate are the sectors most affected, but borrowers are doing better than expected.
Americans’ debt reaches an all-time high, study finds
Household borrowing from mortgages and other loans hit a record, outpacing inflation, a study shows.
Rent-payment reporting brings in 15K mortgage borrowers, provider says
The partnership between personal finance platform Esusu and the National Rental Home Council has several of the trade group's members delivering payment data. They say that has helped result in over 85,000 originations across lending segments.
White House, CFPB seek to ban medical debt from credit reports
Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.
CFPB calls out “price gouging” in credit reporting
At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.
‘Priced to perfection’ starts to unravel as debt markets get jitters
The return of the higher-for-longer mantra is a headache for insurance companies and pension plans which, flush with cash, sent demand for bonds soaring this year.
Outlook improves for corporate credit spread and default risk
The financing outlook improved from recent surveys on a macro basis, but expectations around commercial real estate helped cloud over the credit forecast.
Credit market euphoria is like rate hikes never happened
In credit, a risk-taking ebullience has taken hold. The lowest-rated traded company debt is outgunning safer assets.
FHFA extends credit modernization timeline
The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.
Credit unions put a twist on BNPL to lure debt-conscious borrowers
Shared services organizations PSCU and Co-op Solutions are offering post-purchase buy now/pay later loans, with the goal of reaching consumers who are concerned about managing their credit.
Why auto lenders are cautiously optimistic even as late payments rise
Car loan delinquencies are worsening across all age groups and income levels, as high interest rates and elevated car prices take a toll, according to the New York Fed. But executives at some large auto lenders remain relatively confident about their customers' ability to stay afloat.
Credit monitoring may boost borrower sales, performance
The majority of users are looking for new credit lines and others want to improve their scores. Credit monitoring by consumers may be a good indicator of both, Transunion found.
Smaller regionals brush off commercial real estate worries
Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.
Big banks are copying from private credit’s playbook
Citigroup, Barclays and Morgan Stanley are just a few of the firms joining JPMorgan in what suddenly feels like a rush into direct lending.
Even cherry-picked office loans are causing problems for banks
Washington Trust shares plunged after the Westerly, Rhode Island, company disclosed it booked an office deal in the third quarter, boosting the size of its portfolio while other lenders are pulling back.
Auto lender Ally points to signs that credit erosion will stay in check
Charge-offs at the Detroit-based lender rose last quarter, as borrowers had a tougher time keeping up with their car payments. But so far, credit quality is staying within expectations, and company executives don't anticipate that the rest of the year will be much worse.
Outlook for defaults and spreads worsen, credit portfolio managers warn
There's limited evidence of trouble in credit portfolios currently, but the worst is yet to come, according to a recent IACPM survey.
Will two newer credit scores beat a single older one for mortgages?
Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.
How will the student loan decision impact the mortgage industry?
After a Supreme Court ruling, forgiveness for education debt looks unlikely but some of those exiting forbearance for it get a year-long break on credit and fees that could be helpful.
Load More
Couldn’t load more articles. Try again.