Credit scores

Millennials are targeting homeownership within the next few years, but many are buying into certain house-purchasing myths, according to Bank of America.

August's share of conventional mortgages closed by millennials reached a three-year high as lenders added products to meet their lifestyle, Ellie Mae said.

When it comes to attracting millennials, mortgages could be the key to capturing this demographic for the long haul – provided CUs are willing to put in the work.

Nearly half of July's millennial homebuyers were single, a sign that they are not waiting for certain milestones like marriage before deciding to become homeowners, according to Ellie Mae.

Better consumer credit quality helped push the serious mortgage delinquency rate to its lowest level since the Great Recession, but originations remain low due to tighter underwriting standards and eroding homebuyer affordability, according to TransUnion.

Credit Karma is diving into the mortgage industry with a plan to acquire digital mortgage startup Approved, a provider of consumer-facing online point of sale technology.

The number of consumers being pursued by debt-collection agencies fell dramatically in the past year, but it's as much technicality as achievement, and bankers need to keep that in mind when reviewing the credit scores of millions of Americans.

An increase in millennials making home purchases is a call to the mortgage industry for a quicker, more efficient digital process.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.

Senators at a hearing Thursday discussed a bill establishing an online portal for consumers to monitor their credit reports free of cost.

The average millennial borrower credit score remained unchanged in May, but values by city painted very different pictures, according to Ellie Mae.

Higher interest rates on home mortgages drove the share of loans used to purchase houses rather than refinance to new heights in May.

As mortgage lenders continue seeking ways get more trustworthy consumers into the housing market, a majority of them are utilizing alternative credit as a means of assessing borrower risk, according to Experian.

As the mortgage industry moves farther past the housing crisis, access to credit remains tight, especially for first-time homebuyers.

Supporters say pending legislation would help consumers with little or no credit history. But the bill would instead roll back key consumer protections.

As the mortgage industry makes more strides with technology, the time it took millennials to close loans for new-home purchases shrank to its fastest time yet.

Purchase loans made to millennial mortgage borrowers rose month-over-month in February despite interest rates increasing at the start of the year, according to Ellie Mae.

The annual progress report on the Fannie Mae and Freddie Mac conservatorships reiterated that a new credit score model will likely not be operational until after the implementation of a new Single Security Initiative.

As tight housing inventory continues challenging prospective borrowers, Newfi Lending has launched a new portfolio lending platform in an effort to make homeownership more attainable.

A late addition to regulatory relief legislation would direct the Federal Housing Finance Agency to review credit-scoring alternatives, but some say the provision is redundant.