While mortgage loan delinquencies continued to fall in June, non-mortgage debt continues to mount, according to data from Black Knight Financial Services. This added debt could affect a consumer's ability to keep making mortgage payments or buy a new home.
Guardian Mortgage has named a Bank of America executive to succeed Marcia Phillips as chief executive.
Banks are seeing stronger consumer demand for credit for a range of products, including residential mortgages, auto loans and credit cards, according to a Federal Reserve Board survey of senior loan officers released Monday.
Unlike in personal loans, where Lending Club saw an opportunity to lower the cost of consumer credit card debt, in mortgages, the play is not in providing lower-priced credit, but rather in removing friction, Renaud Laplanche says.
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