Credit

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.

American Mortgage Consultants has acquired the right to hire 50 employees from The Barrent Group and will add 150 more in response to increased private-label securitization.

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.

Credit reporting firms with significant operations in New York will face new cybersecurity and registration requirements to stave off concerns related to a breach of Equifax's systems last year.

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.