Smart Borrower Blog

Subprime Auto Delinquencies Reach 6-Year High

Nov 30th, 2016 @ 1:32 PM by Amber Nelson

Even as delinquencies on other types of loans continue to fall, auto loans among those with poor credit are falling behind at an alarming rate. The number of delinquent subprime auto loans rose to its highest level since 2010 in the third quarter, according to the New York Federal Reserve. “This quarter, mortgage balance growth […]

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Mortgage Rates Top 4 Percent for First Time in 2016

Nov 28th, 2016 @ 2:13 PM by Amber Nelson

Long-term mortgage interest rates rose last week to their highest level for the entire year, according to data from mortgage giant Freddie Mac, a continued sign of that the market expects a Trump presidency to bring stronger economic gains. The average rate on a 30-year fixed rate mortgage jumped to 4.03 percent with an average […]

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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 Loan Market Shows Signs of Weakness

Nov 16th, 2016 @ 1:09 PM by Amber Nelson

Roughly $650 million in online loan securities have or are expected to reach dangerously high levels of default, according to Bloomberg. This latest news is just one of several signs that there is a growing credit weakness in the online lending market. Bloomberg reported that Avant Inc. has already had two of its large online […]

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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.

Business Loan Delinquencies Rise to 4-Year High, Borrowing Falls

Nov 9th, 2016 @ 8:13 PM by Amber Nelson

As U.S. small businesses anticipated the results of the presidential election, they borrowed less and fell behind on their business loans at a higher rate in September. According to the Thomson/PayNet Small Business Lending Index, small business borrowing sank to a reading of 128.9, down from results,” notes William Phelan, president of PayNet. “This still […]

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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.

Banks Losing Ground to Non-Bank Lenders in the Mortgage Market

Nov 2nd, 2016 @ 8:09 PM by Amber Nelson

While traditional banks have long been the major players in making mortgage loans to Americans, during the third quarter non-bank lenders originated more than half of all mortgage loans for the first time in 30 years, according to Inside Mortgage Finance. During the third quarter of 2016, among the top 50 mortgage lenders, non-banks – […]

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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 Delinquencies Rise among Subprime Borrowers, Energy States

Oct 26th, 2016 @ 7:36 PM by Amber Nelson

Americans with less-than-perfect credit are falling behind on their payments at a rapid rate, according to new data from credit reporting agency TransUnion, while those in states dependent on energy markets are also seeing rising credit card delinquencies. Subprime credit card accounts originated in 2015 now have a 2.95 percent 90-day delinquency rate, a large […]

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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.

Average Student Loan Debt Hits All-time High

Oct 19th, 2016 @ 12:34 PM by Amber Nelson

Last year, U.S. college graduates finished school with the highest average student loan debt to date, according to a new report from The Institute of College Access and Success and it is very likely the class of 2016 will have an even higher load. The class of 2015 had an average undergraduate borrower debt of $30,100, […]

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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 Fall on Rising Rates

Oct 12th, 2016 @ 11:39 AM by Amber Nelson

The number of Americans applying for mortgage loans dropped off in the latest week, according to the latest data from the Mortgage Bankers Association. An increase in interest rates was the most likely reason borrowers were scared away from the mortgage table. “As incoming economic data reassured investors regarding U.S. growth, and financial markets returned […]

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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.

Subprime Auto Delinquencies Climb Close to Recession Peaks

Oct 5th, 2016 @ 1:04 PM by Amber Nelson

American consumers with bad credit are falling behind on their auto loans at an alarming rate, reaching levels not far behind their all-time highs during the Great Recession. According to data from Fitch Ratings, the 60 days or more delinquency rate on subprime auto loans rose in August to 4.86 percent, up 6 percent from […]

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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.

Subprime Consumers Access to Credit Reaches 5-Year High

Sep 28th, 2016 @ 8:04 PM by Amber Nelson

Credit card limits for those with bad to worst credit rose in the first half of 2016 to the highest level in over five years, according to new data from the Experian Market Intelligence Brief, a development that brings mixed economic signals. Total credit card limits for those with subprime or deep subprime credit scores […]

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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.

‘Shadow Lenders’ Step in Fill Financing Gap for Commercial Loans

Sep 23rd, 2016 @ 12:37 PM by Amber Nelson

As traditional banks face stricter federal regulation, non-traditional lenders have moved onto the scene to finance the needs of commercial real estate developers. After the financial crisis that began almost a decade ago, the federal government instituted tighter rules on banks, requiring things like higher cash reserves and more stringent lending standards for construction loans. […]

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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.