Mortgage Lending Standards Tightening Up

Mortgages

Mortgage Lending Standards Tightening Up

Mortgage Lending Standards Tightening Up

Consumers who are trying to obtain a home loan these days, regardless of whether it’s backed by the federal government, will likely have a hard time doing so unless they have sterling credit scores and the ability to make significant down payments. New data from the tech firm Ellie Mae shows that the average credit… Read More

Experts Still Worried About Student Loan Debt

Students

Experts Still Worried About Student Loan Debt

Experts Still Worried About Student Loan Debt

In recent months, the amount of money being borrowed by consumers has grown considerably, and is now approaching pre-recession levels in some cases. As the effects of the recent recession continue to wane, the nation has seen upticks in consumer credit usage, which some experts say may be an indicator that consumers are once again… Read More

Obama’s Mortgage Task Force: Working Hard or Hardly Working?

Mortgages

Obama’s Mortgage Task Force: Working Hard or Hardly Working?

Obama’s Mortgage Task Force: Working Hard or Hardly Working?

Maybe you’re reading about it less and less. It doesn’t seem to be the lead story on many national news broadcasts anymore. But it’s still there, festering away like an untreated wound. The foreclosure crisis and the morass of other problems surrounding persistently problematic real estate prices, unwise loans made to now-bereft homeowners, and predatory… Read More

Review: Marriott Rewards Credit Card

Credit Cards

Review: Marriott Rewards Credit Card

Review: Marriott Rewards Credit Card

If you prefer to stay at Marriott hotels when you’re on the road, you should check out the Marriott Rewards Credit Card. I’m not particularly loyal to a specific brand, but I’ve often stayed at Marriott properties, especially when I travel with my family because the rates are usually pretty good. I’ll let you know… Read More

Mortgage Insurance Shocker: Collections After Default

Mortgages

Mortgage Insurance Shocker: Collections After Default

Mortgage Insurance Shocker: Collections After Default

Homeowners who obtain low down payment mortgage loans are often required to pay monthly premiums for mortgage insurance (MI). Mortgage insurance helps protects lenders in case borrowers default by reimbursing some of the lender’s loss. But homeowners who purchase MI may not understand that if they lose their homes to foreclosure, the insurer may come… Read More

Recent Data Breach Raises Credit Card Security Concerns

Identity Theft

Recent Data Breach Raises Credit Card Security Concerns

Recent Data Breach Raises Credit Card Security Concerns

Late last month, a major processor of debit and credit card payments suffered a data breach that exposed the account data for more than 1.5 million cards. Now, experts wonder if more can be done at the federal level to better protect consumers’ sensitive financial details. Data breaches that exposed private account information, and even… Read More

College Kids Being Wooed with Prepaid Cards

Students

College Kids Being Wooed with Prepaid Cards

College Kids Being Wooed with Prepaid Cards

Federal law now prohibits lenders from using certain tactics to market credit cards to young adults, so now some major lenders are looking for new ways to make a name for themselves on college campuses across the country. One new strategy is partnering with colleges to make student IDs into prepaid cards, which will not… Read More

Should Subprime Consumers Start Using Credit Cards Again?

Credit Cards

Should Subprime Consumers Start Using Credit Cards Again?

Should Subprime Consumers Start Using Credit Cards Again?

As the effects of the recent recession continue to fade, consumers are being more cautious about how they deal with debt and use their accounts in their everyday life, and that shift has prompted issuers to change their lending habits. In the past several months, a number of studies have shown that lenders are now… Read More

Putting Credit on Ice Can Hurt Your Score

Credit Score

Putting Credit on Ice Can Hurt Your Score

Putting Credit on Ice Can Hurt Your Score

Millions of consumers nationwide are now making serious efforts to reduce the amount of money they borrow on their credit cards, and many of them are also doing so as a means to stop using these accounts for everyday purchases altogether. However, it’s important to note that there is a right way and a wrong… Read More

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