Transunion

Mortgage activity plunged before the start of the year, but subprime originations dropped the least, according to TransUnion. Despite dwindling volume, borrower delinquency rates hit historic lows in the first quarter.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.

Fewer mortgage borrowers are falling behind on their payments, and consumers' broader borrowing habits indicate an increased willingness to turn to nontraditional sources like fintechs for their lending needs, according to TransUnion.

The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.

Late payments on mortgages are expected to keep dropping and credit is expected to remain strong next year, in part because housing prices remain healthy in most areas, according to TransUnion.

Subprime originations are climbing in multiple consumer loan categories, including mortgages, but the increase is much smaller in the home loan sector than it is in other markets, according to TransUnion.

Most millennials are purchasing fixer-uppers in order to afford a house, with 75% planning to finance renovations by tapping the equity in their home, according to a Chase Home Lending report conducted with Pinterest.

Ellie Mae is tackling home equity lines of credit loans with its latest Encompass Digital Mortgage Solution update as signs point to a surge in home equity borrowing.

A surge in home equity borrowing may be around the corner as household equity levels surpassed their previous housing bubble peak, according to a TransUnion study.