Smart Borrower Blog

Decline in 2015 Small Business Borrowing Could Spell Slower GDP

Feb 3rd, 2016 @ 1:11 PM by Amber Nelson

U.S. small businesses pulled back on borrowing in December compared with the previous year, according to data from PayNet, a sign that entrepreneurs are feeling less confident about the strength of the economy. The Thomson Reuters/PayNet Small Business Lending Index fell to 132.4 in December, up from November’s 127.3 but down from 134.1 in December […]

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TransUnion: Personal Loan Popularity Will Increase in 2016

Jan 27th, 2016 @ 8:32 PM by Amber Nelson

The number of personal loans has risen dramatically in the past two years and is expected to grow through 2016, according to new data from TransUnion, a sign of both an improving economy and limited available home equity. “During and immediately following the Great Recession, consumer demand for both secured and unsecured personal loans grew,” […]

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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 Unions Nab Higher Auto Loan Share

Jan 20th, 2016 @ 8:06 PM by Amber Nelson

Offering lower interest rates than competitors, U.S. credit unions grew their share of auto loans in 2015, according to data from the CUNA Mutual Group. CUNA’s latest Credit Union Trends Report showed that new auto loan balances hit an all-time high of $100 billion as of October 2015, a 1.1 percent increase from the month before […]

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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.

Consumer Delinquencies Rise in Third Quarter

Jan 13th, 2016 @ 10:50 AM by Amber Nelson

Slower economic growth helped push credit delinquencies higher during the 2015 third quarter among American consumers, according to data from the American Bankers Association. In its Consumer Credit Delinquency Bulletin, the ABA reported that the delinquency rate among closed-end loans (installment loans such as car loans and home equity loans) rose to 1.41 percent 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.

New York Offers 2 Years of Student Loan Forgiveness

Jan 6th, 2016 @ 1:10 PM by Amber Nelson

The state of New York has instituted a new program to help struggling college graduates meet their student loan obligations. New York is the first state to offer an income-based loan-forgiveness program in an attempt to reduce the mounting student loan debt load on its citizens. Called the “Get on Your Feet” program, the Andrew […]

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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.

Foreclosures Fell 27 Percent in October

Dec 30th, 2015 @ 9:27 PM by Amber Nelson

The number of completed foreclosures of U.S. properties plunged in October, as did foreclosure inventory and seriously delinquent mortgages, according to data from CoreLogic, proof positive of the ongoing recovery in the housing market. Completed foreclosures fell 27.1 percent in October from the year earlier to 37,000. That was also down 12.3 percent from September’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.

Higher Interest Rates = More Small Business Loan Approvals

Dec 23rd, 2015 @ 9:01 PM by Amber Nelson

Yes, the Federal Reserve rates interest rates last week and yes, that will mean consumers will start to pay a little more for everything from mortgage loans to auto financing, but there is at least one group of Americans who might benefit from the higher rates: U.S. small business owners. According to the latest Biz2Credit […]

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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.

Cash-Out Refis Jump 70 Percent in Second Quarter

Dec 16th, 2015 @ 7:45 AM by Amber Nelson

More Americans are turning to their homes again for a source of capital, according to data from mortgage data company Black Knight Financial Services, Inc., with the popularity of cash-out refinances jumping over last year. “In the second quarter of 2015, we saw cash-out refinance volumes rise almost 70 percent from the same period last […]

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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 Car Prices Reach Record Highs as Consumers Stretch Their Auto Loans

Dec 2nd, 2015 @ 8:52 PM by Amber Nelson

Prices for new cars are rising at a record-breaking pace, causing U.S. consumers to turn to creative financing options, according to a new report from credit-monitoring firm Experian. More car buyers are opting for either leases or longer car loans in order to keep their payments manageable. Experian reported that 27 percent of all new […]

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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 Credit Card Accounts Hit 6-Year High

Nov 25th, 2015 @ 7:41 AM by Amber Nelson

Credit card issuers originated 15.2 million worth of new credit card accounts during the third quarter of this year, the highest level in six years, according to a new report from credit agency TransUnion. Credit card originations were also up 12.2 percent from the 2015 second quarter. “Credit card originations are increasing at a faster pace […]

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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.

Education Department Extends Loan Forgiveness to Corinthian Students

Nov 18th, 2015 @ 8:52 PM by Amber Nelson

The U.S. Department of Education has decided to expand its loan forgiveness program to more former students of the for-profit Corinthian Colleges system in the wake of an investigation of how the colleges defrauded students about job placement rates. Earlier this year students who had attended Heald Colleges, one of the Corinthian College brands, were allowed […]

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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.