Credit

Overall mortgage lending increased by 20% in the second quarter but was still down from a year earlier, according to Black Knight Financial Services.

As head of Fannie Mae's single-family mortgage business, Andrew Bon Salle wants to ease the burden of loan-level price adjustments, streamline condo loan approvals and expand rep and warrant relief. But even he admits there are limits to his power.

A credit service provider agreed to exit the industry on Wednesday after a yearlong lawsuit with the Consumer Financial Protection Bureau.

Millennial credit scores are lower than when Generation X consumers were coming of age, reflecting changes in credit consumption and other consumer behaviors.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

FHFA Director Mel Watt said Fannie Mae and Freddie Mac cannot use alternative credit models until other issues are resolved first.

A bipartisan duo of lawmakers is set Tuesday to introduce a bill designed to increase homeownership opportunities for “credit invisible” consumers.

The share of closed purchase loans remained flat in June, affected by the lack of homes for sale, according to Ellie Mae's Origination Insight report.

Executives at four former credit repair companies agree to pay $2 million for charging consumers millions in illegal advance fees.

The HUD secretary said millennials are being shut out of the market but the purchase of a condominium unit is often the first step to homeownership.