Smart Borrower Blog

Archive for March, 2011

Auto Loan ABS Sitting Pretty

Mar 30th, 2011 @ 8:14 PM by Amber Nelson

The Fitch Ratings company is seeing plenty of positive signs coming out of the auto loan industry these days. Specifically, in its latest collection of data, Fitch has found improvement in car loan delinquencies and defaults and in used car values, both  leading to better performance of auto loan Asset-Backed Securities (ABS). Both prime and […]

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Cost of FHA Loans Set to Rise

Mar 28th, 2011 @ 4:13 AM by Debbie Dragon

Ever since the housing market bubble burst, FHA loans have been in high demand. With tighter lending standards in place for conventional loans, more people have no other option other than an FHA backed mortgage. While FHA loans are still only made available to credit worthy applicants, the criteria is not quite as stringent. Applicants […]

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Home Sales Down, NAR Blames Lending Standards

Mar 23rd, 2011 @ 1:22 PM by Amber Nelson

Sales of existing U.S. homes fell 9.6 percent in February, according to the National Association of Realtors, the first drop in three months. The NAR is pointing its finger at lenders’ strigent loan standards as the reason for the continued housing market woes. “Housing affordability conditions have been at record levels and the economy has […]

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Tax Refund Loans Could Be a Thing of the Past

Mar 21st, 2011 @ 10:14 AM by Debbie Dragon

In past years, many nationally known tax preparation companies offered Refund Anticipation Loans, otherwise known as RALs to their customers. RALs allowed those who were receiving a tax return the ability to get an instant loan against their return within just a couple of days. The loans have been criticized and even called predatory by […]

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2011: Brighter Year for Small Business?

Mar 16th, 2011 @ 1:18 PM by Amber Nelson

The latest study from credit tracking company Equifax reveals that small business bankruptcies are trending downward, hinting at better conditions ahead for the country’s entrepreneurs. From the fourth quarter of 2009 to the fourth quarter of 2010, 10 of the top 15 metropolitan areas with the most small business bankruptcy petitions showed a yearly decline. […]

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Student Loan Debt May Limit Career Options For Some Grads

Mar 14th, 2011 @ 10:10 AM by Debbie Dragon

According to an article on CBS Money Watch, many students graduating college today are faced with such high debt that they are not able to pick the career of their first choice because the job wouldn’t pay enough to pay back their student loans. Add credit card debt to the student loans and these young […]

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Mortgage Applications Rise to Highest Pace in Three Months

Mar 9th, 2011 @ 3:16 PM by Amber Nelson

The number of applications for mortgage loans bounced up to it highest level since December, according to data from the Mortgage Bankers Association. Based on its seasonally adjusted index of mortgage application movement, refinances and home purchase applications were collectively up 15.5 percent during the last week. The refinance index alone was up 17.2 percent, […]

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The Bank Of America Cover-up According To Anonymous A Hacker Organization

Mar 7th, 2011 @ 10:07 AM by Debbie Dragon

Anonymous, a hacker organization just released a batch of emails that they say were provided to them by a former employee from Bank Of America. The emails they say show that a division of Bank Of America hid information related to foreclosures. For Bank Of America, this is another punch in the stomach as they […]

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Study: South Claims the Lowest Average Credit Scores

Mar 2nd, 2011 @ 10:04 PM by Amber Nelson

A recent report from credit monitoring company Experian found that the average credit scores have been going down in the South, but have remained strong in the Midwest and West. Based on the VantageScores, the credit ratings created by the three major credit reporting bureaus, 22 of the 25 U.S. cities with the lowest scores […]

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