Smart Borrower Blog

Wealthiest Cities Have Highest Percentage of $10,000+ Credit Card Debt

Jun 19th, 2019 @ 8:46 PM by Amber Nelson

A new report from LendingTree’s CompareCards found that cardholders are most likely to have to have five-figure credit card balances if they live in the richest and largest U.S. cities. In fact one in six borrowers in the biggest cities have credit card debt of $10,000 or more. Bridgeport, Conn. topped the list of residents […]

Read full article »

Mortgage Rates Halt Decline in Latest Week

Jun 13th, 2019 @ 1:50 PM by Amber Nelson

As investor fears about international trade lessened, long-term U.S. mortgage interest rates held steady in the latest week after falling for the previous six, according to Freddie Mac. The average rate on a 30-year fixed rate mortgage (FRM) was 3.82%, with an average 0.6 point during the week ended June 13, 2019, unchanged from the […]

more »

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

PayPal Reaches $10 Billion in Small Business Lending

Jun 5th, 2019 @ 4:35 PM by Amber Nelson

PayPal announced that it has now made more than $10 billion in small business loans, an intriguing accomplishment considering its traditional reputation for payments rather than loans. Those loans were made to 225,000 small business owners around the world. PayPal has a presence in Australia, Germany and the UK. It also operated in Mexico in […]

more »

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

Mortgage Delinquencies Grow in First Quarter, Still Near Record Lows

May 29th, 2019 @ 2:29 PM by Amber Nelson

Americans fell behind on their mortgage loans at a slightly higher rate in the first quarter, according to the Mortgage Bankers Association, but rates remained near all-time lows. The delinquency rate climbed to 4.42% in the first quarter of 2019, up from the 18-year low of 4.06% in the previous quarter, but still down from […]

more »

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

Auto Lenders Take on More Subprime Borrowers

May 23rd, 2019 @ 12:13 PM by Amber Nelson

While the majority of car loan borrowers continue to have high credit scores, lenders have increased their loans to subprime borrowers over the past year, according to the Federal Reserve Bank of New York. The New York Fed’s Quarterly Report on Household Debt and Credit for the 2019 first quarter found that those with credit […]

more »

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

Mortgage Originations Tumble to 5-Year Lows

May 15th, 2019 @ 11:58 AM by Amber Nelson

Even though mortgage interest rates have remained near record lows, total new mortgage originations fell to a 5-year low during the first quarter of 2019, according to data from the Federal Reserve Bank of New York. Total originations dropped $60 billion from the previous quarter to $344 billion, the lowest level since the third quarter […]

more »

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

25% of Debtors Benefit from a Personal Loan

May 8th, 2019 @ 8:48 PM by Amber Nelson

A new study from TransUnion found that one in four people who take out a small personal loan after falling behind in their other debts are able to catch up and get current on all payments within a year. Of course, the flip side to that statistic is that the majority – 75% – of […]

more »

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

99% of Student Loan Forgiveness Applicants Denied

May 1st, 2019 @ 9:20 PM by Amber Nelson

Less than 1% of borrowers nationwide have been able to take advantage of federal public service loan forgiveness, according to new data from the U.S. Department of Education. As of the end of 2018, there have been 65,500 loan forgiveness applications filed by those with outstanding student debt. The Education Department has processed 58,000, so […]

more »

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

Car Loan, Credit Card Delinquencies Reach New Peaks

Apr 24th, 2019 @ 9:22 PM by Amber Nelson

U.S. consumers are falling behind on their credit card bills and car loans at higher rates than have been seen in almost a decade, according to data from the American Bankers Association, but that may be more of a return to historical norms rather than a sign of economic doom. After falling in 2017, in […]

more »

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

Home Purchase Requests Jump to 9-Year Record High

Apr 17th, 2019 @ 9:30 PM by Amber Nelson

Even as interest rates continued to climb, the number of applications for home purchases rose to the highest level since April 2010, according to the Mortgage Bankers Association. Total mortgage application volume decreased 3.5% during the week ended April 17, 2019, but was up 14% from the previous year. Home purchase requests rose 1% in […]

more »

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

Big Banks Approve Small Business Loans in Record Numbers

Apr 10th, 2019 @ 8:51 PM by Amber Nelson

March was a good month for getting a small business loan approved, according to data from Biz2Credit. The number of applications approved by big U.S. banks rose one-tenth of a percent to 27.3%, the highest percentage on record. “Approvals by big banks continue to climb,” said Biz2Credit CEO Rohit Arora. “With strong financials from 2018, […]

more »

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