Smart Borrower Blog

‘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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Mortgage Rates Remain Low Even as Credit Tightens

Sep 14th, 2016 @ 7:41 PM by Amber Nelson

The availability of mortgage credit declined in August, according to the latest data from the Mortgage Bankers Association, yet mortgage interest rates remain near rock bottom levels. The MBA’s Mortgage Credit Availability Index  fell 0.4 percent last month, an indication that mortgage credit was slightly harder to come by. Conforming mortgage loan credit availability decreased […]

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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.

Survey: Saving for Kids’ Student Loans Takes Priority over Saving for Retirement

Sep 7th, 2016 @ 8:33 PM by Amber Nelson

College tuition costs have risen so steeply over the past decade that many parents are now more worried about saving up for their children’s student loans than about their own retirement needs. According to a recent T-Rowe Price survey, 67 percent of all households say saving for their kids’ college education is a higher financial […]

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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 Defaults Grow by Double Digits

Aug 31st, 2016 @ 8:55 PM by Amber Nelson

American consumers with bad credit are falling behind on their car payments at an increasingly high rate, according to Fitch Ratings, a sign that the subprime market may have peaked for the foreseeable future. In July 4.59 percent of subprime auto loan borrowers (those with credit scores of 600 or lower) were 60 days or […]

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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 Rates Rise, Applications Fall

Aug 24th, 2016 @ 8:46 AM by Amber Nelson

As mortgage rates continued to decline, applications for mortgage loans also fell during the latest week, according to data from the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of total mortgage application volume, dropped 2.1 percent during the week ended August 19, 2016, from the week before. Most of that decline was […]

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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 Use is on the Rise, But Not among Millennials

Aug 17th, 2016 @ 8:37 PM by Amber Nelson

Americans are charging more purchases to their credit cards, according to new data from the Federal Reserve, but that trend does not include the nation’s youngest generation of spenders – Millennials. The Federal Reserve Bank of New York reported Tuesday that household debt rose $35 billion, or 0.3 percent, in the second quarter of 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.

Small Business Lending Ticked Up in June

Aug 10th, 2016 @ 9:04 PM by Amber Nelson

U.S. small businesses increased their borrowing in June compared with the month before, but fell from the year-ago level, according to new data, a sign that the economy may continue to limp along for a few quarters. The Thomson Reuters/PayNet Small Business Lending Index rose to 138.9 in June, up from 131.1 in May. On […]

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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 Rates Drop But Home Loan Applications Fall

Aug 4th, 2016 @ 12:24 PM by Amber Nelson

During the past week, average rates on U.S. mortgage loans fell even as applications for home loans fell from the previous week. According to data from mortgage finance company Freddie Mac, the average rate on a 30-year fixed rate conventional mortgage declined to 3.43 percent, with an average 0.5 point, during the week ended August […]

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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 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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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

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.