Credit scores

With interest rates down, purchase mortgages accounted for the vast majority of millennial homebuyers' loans in February, according to Ellie Mae.

Rep. Gregory Meeks of New York signaled which legislative provisions Democratic leaders would accept in a bipartisan housing finance package.

Home equity is at an all-time high, but consumers aren't taking advantage of this financing option, according to LendingTree.

The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.

Millennials make up the largest cohort of homebuyers, but a quarter of them don't even know their credit score, which could be a call for mortgage lenders to help them prepare to enter the housing market.

Millennial homebuyers took advantage of a winter lull in interest rates, using the opportunity to refinance their loans, according to Ellie Mae.

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.

Some hopeful souls in Washington believe the commercial banking industry will return to originating and servicing higher-risk mortgages, but most banks are more likely to continue withdrawing from the sector.

A new marketing tool lets consumers start the mortgage prequalification process by sending a text message, providing would-be borrowers with credit and loan program details and offering lenders a low-cost source of leads.

Adjustable-rate mortgages in November had their highest share of closed loans since Ellie Mae started tracking this data in 2011 as rates for 30-year loans reached 5.15%.

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.

Growing home prices and climbing interest rates didn't stop millennials from buying houses in October, Ellie Mae said.

Average credit scores for mortgage borrowers remain at a 2018 high, a sign that lenders aren't easing standards despite refinance candidates already falling off on higher rates, according to Ellie Mae.

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.

As interest rates rise, mortgage originators need to teach millennial homebuyers about the product options outside of conventional loans, Ellie Mae said.

Mortgage industry executives claim sparse affordable housing supply is the most impactful hurdle for first-time homebuyers entering the market in 2019, but the majority don't think regulatory policy will help the cause.

Mortgage borrower credit scores hit their low points more than five months after making a home purchase, but lender reporting cycles also cause these results to vary, according to LendingTree.

A new credit score that includes consumers' cash flow alongside their credit score is winning praise for its potential to help expand access to credit, but some worry it gives the credit bureaus even more data that could be compromised.

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.