Smart Borrower Blog

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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Google Puts the Kibosh on PayDay Loan Ads

May 11th, 2016 @ 12:04 PM by Amber Nelson

Google has decided to ban advertisements for payday loans on its search engine pages in an effort to protect its consumers, according to recent statements. Payday loans, as defined by Google, are loans with an APR of 36 percent or higher and are due within 60 days of issuance. Google’s users will still be able […]

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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 Expect To Tighten Business Lending Standards in 2016

May 4th, 2016 @ 9:31 AM by Amber Nelson

A significant share of bankers expect to require higher standards on business loans during the rest of 2016, according to a new survey from the Federal Reserve, a sign that the overall economy could slow in coming months. In the April 2016 Senior Loan Officer Opinion Survey on Bank Lending Practices, the Fed reported 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.

Mortgage Applications Fall as Economy Looks Brighter

Apr 27th, 2016 @ 8:30 PM by Amber Nelson

This past week was good for investors but disappointing for mortgage lenders, according to the latest data from the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of total mortgage application volume, fell 4.1 percent during the week ended April 22, 2016. While applications for home purchase loans dipped 2 percent, refinance requests […]

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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.

Fitch: Dip in Auto Delinquencies Will Not Last

Apr 20th, 2016 @ 8:29 PM by Amber Nelson

The percentage of seriously delinquent auto loans fell in March, but Fitch Ratings says that it was just a seasonal drop that will not become a trend. Seriously delinquent car loans – those with late payment of 90 days or more – reached a 20-year high in February of 5.16 percent before declining in March to […]

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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 Delinquencies Fell in Fourth Quarter as Auto Loan Late Payments Jumped

Apr 13th, 2016 @ 8:32 PM by Amber Nelson

U.S. mortgages and related loans fell significantly during the 2015 fourth quarter, according to recent data from the American Bankers Association. In its Consumer Credit Delinquency Bulletin the ABA reported that two out of the three home loan categories it tracks showed marked improvement. Home equity lines of credit (HELOC) delinquencies fell to 1.18 percent […]

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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.

Small Business Lending Got a Boost in February and March

Apr 6th, 2016 @ 7:58 PM by Amber Nelson

Two separate indexes released this week show that small business lending has been picking up over the last two months, a welcome sign of a stronger economy. The Thomson Reuters/PayNet Small Business Lending Index , a measure of small business borrowing, rose to a reading of 138 in February, up 17 percent from the month […]

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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.

PayDay Loans to Get Government Overhaul

Mar 30th, 2016 @ 8:22 PM by Amber Nelson

Payday personal loans will soon be more heavily regulated by the U.S. government, with new rules to be released in mid-May, according to the Consumer Financial Protection Bureau (CFPB). These types of loans allow borrowers to get smaller amounts of quick cash, borrowing against their future paychecks. They come with astronomically high interest rates and […]

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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 As Rates Climb

Mar 23rd, 2016 @ 8:16 PM by Amber Nelson

After six weeks of ultra-low interest rates, a small increase led to fewer refinances and home purchases in the latest week, according to the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of total loan application volume, fell 3.3 percent during the week ended March 18, 2016. Home purchase loan requests declined by […]

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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.

Fidelity’s New Employment Perk: Student Loan Repayment

Mar 16th, 2016 @ 8:42 PM by Amber Nelson

Catering to the greatest needs of Millenials entering the workforce, Fidelity Investments announced this week the introduction of a student loan debt repayment benefit for its employees. “Our employees and their managers told us that student loan debt was forcing them to put off major life decisions like buying a home and having a child,” […]

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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.

Federal Reserve: Small Businesses Still Prefer Small Lenders

Mar 9th, 2016 @ 8:52 PM by Amber Nelson

U.S. small businesses found greatest acceptance and satisfaction with small (often local) banks, according to a recent survey from the Federal Reserve, although larger firms continue to be approved for loans much more often than small and startup companies. The Fed’s 2015 Small Business Credit Survey found that “traditional bank lending continues to be the primary […]

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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.