Smart Borrower Blog

Big Banks Get Bank in the Small Business Loan Groove

Jul 22nd, 2015 @ 7:55 PM by Amber Nelson

American big banks are consistently approving more small business loan applications each month, easing back into that market along with institutional lenders, while credit unions and alternative lenders are taking a step backward. According to the Biz2Credit Small Business Lending Index, big banks – those with more than $10 billion in assets – approved 22.19 […]

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Fed Prez: Expect First Rate Increase This Year

Jul 15th, 2015 @ 8:22 PM by Amber Nelson

The Federal Reserve will be raising interest rates before the end of the year as long as the economy stay on track, said Federal Reserve Chairwoman Janet Yellen this week. In her prepared remarks before the House Financial Services Committee she explained that the gradual improvement in the labor market and unemployment rate – now […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Student Loan Debt Hampers U.S. Small Business Creation

Jul 8th, 2015 @ 9:07 PM by Amber Nelson

It appears the consequences of $1 trillion in student loan debt are finally catching up to the U.S. economy. Large student loan debts are keeping many would-be entrepreneurs from starting their own small businesses, according to a recent study by the Federal Reserve Bank of Philadelphia and the Penn State Smeal College of Business. The […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Mortgage Originations Jump 75 Percent from Last Year

Jul 1st, 2015 @ 8:16 PM by Amber Nelson

Low interest rates and increased inventory helped the number of U.S. mortgage origination balances skyrocket almost 75 percent in the first quarter of this year, according to the Equifax National Consumer Credit Trends Report. Mortgages originated in the 2015 first quarter totaled $466 billion, up 74.4 percent from the first quarter of 2014. “The drop in […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Credit Card Debt Hampers Millennial Love Lives

Jun 24th, 2015 @ 8:17 PM by Amber Nelson

It is often said that money problems are the biggest challenge in any marriage. If that’s true, then Millennials are likely to have more difficulty than any previous generation in their relationships. With almost half of Millennials (Americans aged 18 to 34) admitting to bringing credit card debt into their current relationship, young love may […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

15% of Retirees Still Have Student Debt

Jun 17th, 2015 @ 12:36 PM by Amber Nelson

Student loan totals have been on the rise, especially since the start of the Great Recession, with the class of 2015 now carrying the largest student loan debt load in history. Yet there may be a group of Americans struggling even more than recent graduates with student loans: retirees. A study from LIMRA Secure Retirement […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Mortgage Applications Rebound After Holiday

Jun 10th, 2015 @ 1:02 PM by Amber Nelson

Memorial Day festivities kept borrowers away from the mortgage table, but they made up for it in the latest week, with increases in refinancing and home purchases, according to the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of total mortgage application volume, jumped 8.6 percent on a seasonally adjusted basis during the […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Car Loan Terms Reach Record Highs

Jun 3rd, 2015 @ 8:43 PM by Amber Nelson

Auto dealers are boosting car sales by stretching out the length of loan terms to all-time highs, according to recent data from Experian Automotive. The average loan term for new-car loans jumped to 67 months in the first quarter of 2015, a new record high, up from 66 months during the previous quarter. Of all […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Short-Term Debt Linked to Depression

Jun 1st, 2015 @ 9:36 AM by Amber Nelson

Those with credit card debt and other short-term debt hanging over their heads are significantly more likely to have symptoms of depression than those without the obligations, according to a recent study. from the Institute for Research on Poverty and the Center for Financial Security at the University of Wisconsin-Madison. Longer-term debt did not produce […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Online Lenders Cutting Into Small Business Loan Market

Jun 1st, 2015 @ 9:33 AM by Amber Nelson

The ease of use and the greater access to funding is helping online lenders take a large chunk out of big banks small business lending portfolios. And that trend is likely to continue as investors see the growing profits. The Federal Reserve recently reported that 18 percent of small business owners have applied for business […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

6.8 Million Former Homeowners Unlikely to Buy Again

Apr 22nd, 2015 @ 2:56 PM by Amber Nelson

Only a quarter of those who lost their homes in the wake of the mortgage meltdown are likely to become homeowners again, according to recent data from the National Association of Realtors. Since the housing bubble burst in 2006, there have been almost 9.3 million homeowners who experienced a foreclosure, short sale or deed-in-lieu of […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.