Credit

Kerry Killinger, former CEO of Washington Mutual, says the asset bubbles and increased consumer debt that contributed to his company's failure are reappearing.

As credit remains tight, Opportunity Financial’s work with consumer financial services Brightside firm aims to offer a wider swath of borrowers access to small loans.

Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019.

After its three acquisitions since last August, the Philadelphia area-based credit data firm predicts more industry consolidation is on the way.

The bill introduced by Rep. Patrick McHenry, the top Republican on the Financial Services Committee, would expand CFPB authority to the credit reporting industry and require that certain adverse information be removed from a consumer’s credit history.

Like so many other businesses, Credit Karma was not spared by the pandemic and its rippling effects on the economy. Their business was prone to the same macro conditions, particularly the tightening of lending standards and credit limits. Join Paul Centopani, National Mortgage News' reporter and Andy Taylor, Credit Karma's General Manager of Home & Mortgage as they discuss how FinTechs can pivot to adapt to the new normal.

The acquisition brings the credit report provider into the commercial and residential appraisal technology space.

Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are renewing questions about credit quality.

The boom continues, with refinances making up a 61% share of all mortgage loans issued that month, according to Ellie Mae.

The largest concerns are with pandemic risk and defaults, along with business resilience and adaptability, according to a Wolters Kluwer survey.