By KIMBERLEY HAAS A case study by FormFree highlights how one of the nation’s largest independent mortgage lenders is serving the credit invisible. Leaders at FormFree estimate that millions of adults in the United States are credit invisible or credit unscorable. That makes it difficult for these potential homeowners to qualify for a mortgage. Manual…
Mortgage credit availability rose by 1.5%, according to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). This is its highest level since May 2021. The index analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool. The MCAI rose to 125.6, with the Conventional MCAI increasing 4.5% while the Government MCAI fell…
Americans’ average credit score rose seven points from 2020 to Q2 2021, reaching 695, the highest average in more than 13 years, according to Experian’s State of Credit report. “The findings from this year’s report show something I’ve always believed: Americans are resilient, for the most part they make smart decisions in the face of…
Total household credit increased by $155 billion in the first quarter of 2020, driven primarily by an increase in mortgage balances, according to a report released Tuesday by the Federal Reserve Bank of New York. Total household debt increased to $14.3 trillion in the quarter, up 1.1 percent – and is $1.6 trillion higher than…
By Jim Perksie Historically low interest rates may not benefit many would-be homebuyers as the credit market is tightening considerably during the coronavirus pandemic. Redfin announced Wednesday that its Mortgage Credit Availability Index dropped 16 percent in March and is at its lowest level in five years. The index measures how easy it is to…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!