Smart Borrower Blog

Archive for October, 2013

Mortgage Volume Could Fall 32 Percent in 2014

There will be fewer mortgages made in the coming year, according to a new forecast from the Mortgage Bankers Association, as interest rates rise and unemployment falls. The MBA believes that while there will likely be a total of $1.7 trillion mortgage originations for 2013, in 2014 there will be less than $1.2 trillion in […]

Toyota Auto Loans Outshine Competition

The size and health of Toyota Motor Corp.’s captive finance lender is helping the company to outperform all others in terms of loan volume and variety. Totyotal Financial Services, the in-house lender for Toyota, currently has $95 billion in assets and makes more loans and leases to customers of its affiliated dealers than does any […]

Study: Students Get the Runaround from Private Lenders and Servicers

American consumers trying to pay off student loans from private lenders often face difficulties with missed paperwork and added fees, according to a new report from the Consumer Financial Protection Bureau. The study examined 3,800 complaints against private student debt lenders and servicers made during the past year. Some borrowers complained that their payments were […]

Small Businesses Feel Sting of Government Shutdown

After a week of all but the most essential government services being shutdown, small businesses are already beginning to feel the financial effects, especially when it comes to financing. Small businesses, unlike larger companies, don’t typically have large reserves to fall back on in emergencies like this one. “Their margins are a lot smaller and […]

Credit Card Fees Fall As Access Shrinks

Credit card fees have dropped over the past four years thanks to the financial legislation, but access to credit has also fallen, according to a new report from the Consumer Finance Protection Bureau. The Credit Card Accountability, Responsibility and Disclosure Act of 2009 (CARD) made sweeping changes across the credit card industry in an effort […]