Buying a New Car Just Got Easier

Auto Loans

Buying a New Car Just Got Easier

Buying a New Car Just Got Easier

Buying a new car got easier in the first four months of 2011 as loan issuers loosened lending standards and gave more money to people with lower credit scores, according to a new report out Thursday by Experian, a national credit bureau. The average credit score for people who received loans for a new car… Read More

Consumers Sought Mortgages for More Purchases Last Week

Mortgages

Consumers Sought Mortgages for More Purchases Last Week

Consumers Sought Mortgages for More Purchases Last Week

Mortgage applications filed during the week ending May 20 rose 1.1 percent on a 1.5 percent increase in the number of consumers seeking loans for new purchases, according to the latest weekly statistics from the Mortgage Bankers Association. On an unadjusted basis, the number of purchase applications was 3.1 percent higher than in the same… Read More

Student Loan Defaults Spike

Students

Student Loan Defaults Spike

Student Loan Defaults Spike

The rate of student loan defaults spiked by 26% in 2009, the biggest single-year increase on record, according to a report released last week by the U.S. Department of Education. The problem was especially grave at private, for-profit universities, where former students defaulted at more than twice the rate of those at public schools. Nationwide,… Read More

Herding Cats: Regulating Online Tracking

Personal Finance

Herding Cats: Regulating Online Tracking

Herding Cats: Regulating Online Tracking

There was a time, when the World Wide Web was young, that many entrepreneurs counted on the idea they could make money the old-fashioned way–by charging cyber-customers on a per-use basis, the same way they charged traditional brick-and-mortar patrons. Most print magazines, for example, felt they could make a seamless transition from paid print subscriptions… Read More

Next Generation Homebuyers Seek Function Over Features

Mortgages

Next Generation Homebuyers Seek Function Over Features

Next Generation Homebuyers Seek Function Over Features

In the early 1990s, my family built a home in the quiet suburb town of Shrewsbury, Mass. The 4-bedroom, brick-front Colonial had everything you’d expect it to have: a living room and separate sunken family room, a formal dining room, bathroom immediately to the right of the entrance, a home office to the left, a… Read More

Consumer Protection Fight Erupts Into Allegations of Lying

Personal Finance

Consumer Protection Fight Erupts Into Allegations of Lying

Consumer Protection Fight Erupts Into Allegations of Lying

An uncommonly bitter brawl in the halls of Congress, complete with accusations of lying, may dim hopes of compromise regarding the new Consumer Financial Protection Board. On two separate occasions during the one-hour hearing, Rep. Patrick McHenry (R-NC) accused Elizabeth Warren, the agency’s leader, of lying to Congress. “You’re making this up, Ms. Warren. This… Read More

Teens Changing Attitudes Towards Credit Cards

Students

Teens Changing Attitudes Towards Credit Cards

Teens Changing Attitudes Towards Credit Cards

Just 39 percent of 18 year olds say they are “knowledgeable about how to manage a credit card,” according to the latest Teens and Money Survey from financial services firm Charles Schwab. Just 32 percent say they are aware of how interest rates and fees for credit card accounts work. However, 74 percent also say… Read More

California “Strike Force” Will Target Mortgage Fraud at All Levels

Mortgages

California “Strike Force” Will Target Mortgage Fraud at All Levels

California “Strike Force” Will Target Mortgage Fraud at All Levels

California will start its own mortgage fraud “strike force” to investigate alleged corruption at every stage of the lending process, from loan origination through the sale of mortgage-backed securities, according to a recent announcement by Kamala D. Harris, the state’s attorney general. “Families are losing their homes, while those who perpetrated crimes and frauds against… Read More

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