Credit

Rather than adding the option of using two rather than three prior to score updates, the company suggested the former functionality be added after or scrapped.

As the holiday shopping season approaches, late payments on credit cards have surpassed their pre-pandemic levels, according to a new VantageScore report. The consumers showing signs of deterioration include not only subprime borrowers, but also those with prime credit scores.

Washington Trust shares plunged after the Westerly, Rhode Island, company disclosed it booked an office deal in the third quarter, boosting the size of its portfolio while other lenders are pulling back.

That's the higher-end estimate of people who will be eligible for government-related financing when expanded metrics are used as part of an initiative to expand access to homeownership.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

It's been a rocky few years for senior housing as the sector recovers from its COVID occupancy drop and its profitability takes a hit. But bankers see long-term opportunities amid an aging U.S. population and say their portfolios are healthy.

An analysis of previously released S&P data suggests the Federal Housing Finance Agency's initiative would have mixed impacts on the price of loans and eligibility that vary by individual.

The lender involved is interested in seeing how the newer model works in conjunction with nonconforming mortgages while the government-sponsored enterprises plan broader adoption.

The combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

The Federal Housing Finance Agency is adding advanced models that include rental payment histories and trended data, but others tap cell phone or consumer-permissioned bank data.

Removing such debt information from consumer reports generated an uptick in home loan inquiries in one study and other industries have found advanced score use pays off.

Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.

This first step in updating borrower assessments was seen as the easiest and could reduce costs, but stakeholders fear change that reduces data inputs.

The decision from the Federal Housing Finance Agency to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit, writes the founder and CEO of Financial Services Innovation Coalition and a certified general appraiser at the Dawson Valuation Group.

The association thinks this could simplify and manage the costs of two new pending credit requirements by allowing companies to add the one that's been through a price hike second.

After a Supreme Court ruling, forgiveness for education debt looks unlikely but some of those exiting forbearance for it get a year-long break on credit and fees that could be helpful.

Transgender and nonbinary people who switch their names to fit their gender identity must send documentation to all three national credit bureaus in order to avoid a hit to their credit — and many aren't aware of the need to do so.

The proposed legislation from Tennessee Republican John Rose calls for limiting the sale of consumer information to mortgage lenders, but includes stipulations for those with existing relationships.

Cullen/Frost, Columbia, Synovus, Valley National and Associated all have relatively large exposures to the office sector, which has been hurt by the popularity of remote work. Their executives point to factors that offer protection, including the geographic composition of their portfolios and the types of buildings that serve as collateral.