Credit scores

Low mortgage rates are setting the stage for growth, not just in refinancings, but in purchase volume as well during 2020, according to Ellie Mae.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

FICO plans to release a new suite of scores that could reduce defaults on newly originated mortgages by 17%, but home lenders may not use it unless the government-sponsored enterprises do.

The percentage of recent mortgage borrowers with subprime credit scores still resides in the single digits, but nearly doubled what is was in 2013, according to TransUnion.

VantageScore totaled 12.3 billion scores across consumer credit loan categories over a 12-month period between 2018 and 2019 with minimal mortgage volume, leaving potential for a major ramp up.

Freddie Mac's test of artificial intelligence to make lending decisions could be a significant turning point in broadening the use of the technology.

Borrowers recovering from foreclosure might not be in as much hot water as perceived, with many maintaining healthy credit scores within a year, according to LendingTree.

Kristy Kim was an immigrant success story with a degree from Berkeley and a lucrative job — except her lack of credit history precluded her from getting a car loan. She started TomoCredit to help the many young folks who struggle to qualify for a credit card.

Millennial mortgage debt is on pace to reach levels higher than any other generation, according to Experian.

Refinances jumped in July in response to a considerable mortgage rate decline from the month prior as homeowners set to lock in lower costs, according to Ellie Mae.