Banking

Consumers are 19% more likely to pay their auto loans than their mortgages, which is a shift in attitude from the pandemic period, FICO said.

Consumers are more interested in reporting rental pays to the credit bureaus as landlords become less involved, according to TransUnion.

VantageScore 4.0 offers no real edge over FICO and could add risks to housing finance, analysts at AEI's Housing Center argue.

The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.

Mortgage delinquency rates increased versus the second quarter of 2024, with certain markets, especially in the South, reporting higher levels of difficulty.

The bank will deploy Nova Credit's Cash Atlas software to determine borrowers' creditworthiness by looking at bank account data, and the vendor's Credit Passport to bank newcomers to the country.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

Data suggests that the beleaguered commercial real estate market isn't going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn't be disastrous, analysts say.

The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.

Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.

MBA urges GSEs to drop tri-merge credit rule, calling it outdated and costly as FHFA weighs broader credit reporting and scoring reforms.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

President Trump and his administration have begun to scrap new mortgage lending guidelines that made it easier for home buyers and sellers to dispute property appraisals, finding that homes owned by racial minorities are routinely valued lower than comparable homes with white owners. But despite the promised regulatory relief, many mortgage lenders say the regulatory changes will not impact their lending practices.

Fears of identity theft are top of mind for many Americans, even as many admit they're open to lying themselves in order to get mortgage credit.

Pushing back on critics, VantageScore's Chief Strategist and Chief Economist says VantageScore 4.0 boosts competition and predicts risk better than FICO.

More details are out about the government-sponsored enterprises' acceptance of nontraditional credit metrics. But pundits say fiscal analysis is still tough.

As high interest rates make refinancing impossible for many homeowners, increasing numbers of them are turning to HELOCs and home equity loans for cash.

Allowing the same three companies to control both credit scoring and credit reporting removes one significant check on manipulation or distortion of consumer data, writes the Director of Consumer Reporting and Data Advocacy at the National Consumer Law Center.

The Long Island-based company's second-quarter net loss was the seventh consecutive quarter in which it has reported a net loss. CEO Joseph Otting remained optimistic Friday about the bank's future, saying it should return to profitability in the fourth quarter.