Smart Borrower Blog

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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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.

Refinances Slow As Rates Remain Low

Mar 2nd, 2016 @ 9:57 PM by Amber Nelson

As mortgage interest rates continue to tick downward, homeowners are feeling less and less pressure to refinance, according to data from the Mortgage Bankers Association. The MBA measures the volume of refinance applications every week with its Refinance Index, which fell 7 percent on a seasonally adjusted basis during the week ended February 26, 2016, […]

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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.

Delinquencies on Subprime Auto Loan Bonds Rise to 6-Year High

Feb 24th, 2016 @ 8:38 PM by Amber Nelson

Subprime borrowers are falling behind on their car payments at unnervingly high rates, according to Bloomberg. Subprime auto loans that have been packaged into bonds and sold to investors saw their delinquency rate jump to 4.7 percent in January, the highest level since 2010 in the aftermath of the Great Recession. Those loan bundles have […]

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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 Hit 3-Year High

Feb 17th, 2016 @ 9:53 PM by Amber Nelson

As more sub-prime consumers have gained access to credit cards in recent years, the percentage of borrowers falling behind on their payments has also jumped, according to data from credit reporting agency TransUnion. During the fourth quarter of 2015, the credit card delinquency rate (borrowers with payments late by 90 days or more) rose 6.9 […]

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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.