Smart Borrower Blog

New System to Simplify Federal Student Loan Experience

Jul 27th, 2016 @ 8:08 PM by Amber Nelson

Last week the U.S. Department of Education laid out a new system to make repaying federal student loans a smoother process, a fulfillment of its directive from the March 2015 Student Aid Bill of Rights. Since 2015, the DOE has been surveying borrowers, student loan industry players and consumer advocated to find out how to make […]

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Auto Loan Industry Continues to Boom but Not Without Risks

Jul 20th, 2016 @ 8:10 PM by Amber Nelson

The U.S. auto lending industry has been busy this year. Car loans and leases grew to a total value of $1 trillion a few months ago, with large lenders like JP Morgan Chase and Wells Fargo seeing almost double-digit growth in volume since 2015. And yet this stellar rise carries a lot of risk 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.

Large and Small Business Borrowing Slumped in May

Jul 13th, 2016 @ 3:10 PM by Amber Nelson

Two separate reports found that U.S. businesses, both large and small, cut back on borrowing in May, a sign that the economy was already on rocky ground before the tumult of Brexit in June. The Thomson Reuters/PayNet Small Business Lending Index fell to 128.6 in May from an upwardly revised 129.5 in April. The PayNet […]

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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.

Consumers Push Mortgage, Credit Card Delinquencies Lower

Jul 7th, 2016 @ 8:21 PM by Amber Nelson

U.S. consumers continued to manage their debts better in the first quarter, according to the latest report from the American Bankers Association, with delinquencies falling in seven of the 11 tracked loan categories. “More people have jobs, wages are higher, home values have increased and consumers didn’t overextend themselves during the holiday season,” said James […]

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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.

“Brexit” Brings Lower Mortgage Rates to Buyers

Jun 29th, 2016 @ 8:11 PM by Amber Nelson

In the wake of the “Brexit” vote – the U.K’s decision last week to leave the European Union – stocks have been tumbling, bringing Treasury yields and mortgage interest rates down with them. As nervous investors have pulled their money out of stocks and put it into the safety of government bonds, the 10-year U.S. […]

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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.

Study: Credit Cards Can Lead to Better Jobs

Jun 22nd, 2016 @ 7:47 PM by Amber Nelson

When Americans lose their jobs, having a credit card with a sizable limit may be the key to finding not just a new job, but a great job, according to a recent study from the National Bureau of Economic Research (NBER). Using data from 5 million TransUnion credit reports between 2001 and 2008, and information 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.

Deferred Student Loans May Keep Buyers from Getting Mortgages

Jun 15th, 2016 @ 12:01 PM by Amber Nelson

New federal regulations are likely to stop many potential American home buyers from qualifying for an FHA mortgage. Lenders will now have to take into account any student loans in deferment, a situation which many keep many younger borrowers from making a home purchase. The Federal Housing Administration (FHA) has included a new rule 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.

Mortgage Applications Jump as Rates Dip

Jun 8th, 2016 @ 9:01 AM by Amber Nelson

U.S. borrowers rushed to the mortgage table during the latest week, as a weak jobs report pushed interest rates lower, according to data from the Mortgage Bankers Association. During the week ended June 3, 2016, mortgage applications rose 9.3 percent on a seasonally adjusted basis from the previous week. The MBA’s Market Composite index is […]

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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.

Consumers Taking on More Debt and Handling It Better

Jun 1st, 2016 @ 8:41 PM by Amber Nelson

U.S. consumers increased their overall debt load during the first quarter of 2016, according to new data from the New York Federal Reserve, and so far they seem to be keeping up with their payments better than the previous quarter. The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit found that […]

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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.

Younger Buyers Return to the Auto Loan Market

May 25th, 2016 @ 11:56 AM by Amber Nelson

Although the Great Recession may have kept many Millennials from buying cars for several years, today those younger consumers are returning to the auto loan market in ever-increasing numbers, according to data from LendingTree. During the past year, 34 percent of all auto loan requests have come from Millennials – those aged 18 to 34 […]

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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.

New Mortgage Documents Get Borrowers’ Attention

May 18th, 2016 @ 8:04 PM by Amber Nelson

A pair of new federally mandated mortgage loan disclosures are having the intended effects – getting borrowers to review their loan terms before closing, according to a new industry survey. As of last October, the Consumer Financial Protection Bureau required mortgage lenders to discard the old HUD-1 mortgage disclosure document and instead provide borrowers with […]

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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.