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Entries Tagged as 'Mortgage Loans'

Many Mortgage Lenders Have Yet to Adopt FICO 08

September 16th, 2009 · 1 Comment · Credit Bureaus and Scores, Credit Reports

When Fair Isaac Corporation (FICO) rolled out their “new and improved” FICO 08 credit scoring model last year, hopeful consumers with single derogatory incidents on their reports anxiously awaited the possibility of improved credit scores under the new system. The updated scoring model, developed in part in response to the subprime mortgage crisis, minimizes the effect of small, missed payments listed in [...]

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The United State of Credit in America

February 27th, 2009 · No Comments · Consumer Debt, Credit Cards

Bet I got your curiosity peaked with that Title! Any guesses what we are talking about (other than the state of  “poor”, or “no”)? All kidding aside…
We ran across a kind of cool interactive map of the United States that shows which parts of the country are defaulting on mortgage and credit-card loans. The color-coded [...]

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Fannie Mae and Freddie Mac to Toughen Credit Guidelines

February 20th, 2009 · 3 Comments · Consumer Debt, Credit Bureaus and Scores, Mortgages, Real Estate

While legislators are struggling to find ways to stimulate the economy and save the drowning housing market, the news that stricter credit requirements and higher fees are coming down the pipe couldn’t be timed worse.  Effective April 1, 2009,  Fannie Mae and Freddie Mac are increasing their mandatory fees and toughening their credit score and [...]

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Make All Your Mortgage Payments on Time? You Can Still Get Foreclosed

May 27th, 2008 · No Comments · Mortgages

If you have a so-called option ARM, where you get a choice of the payment structure you want, I’ll bet you didn’t know about an insidious clause in that loan. In many option loans, you can choose a minimum payment, much like a credit card, where you just make a small payment, [...]

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