Archive for April, 2014
Student Debt Forgiveness Program May Get New Limits
Apr 30th, 2014 @ 7:48 PM by Amber NelsonPopularity is rising with federal student loan forgiveness programs, but the Obama Administration is suggesting new loan limits in order to keep costs down and make sure the neediest students have access to help. With college tuition fees surging over the past decade – education costs have already risen 6 percent in 2014 from last […]
more »Credit Unions Look To Expand Auto Lending in 2014
Apr 24th, 2014 @ 7:07 PM by Amber NelsonWhen credit union executives were asked recently what the most significant issue facing credit unions is, loan growth was the answer for a large majority – 72 percent. And increasing the number of auto loans seems to be the easiest way to tackle the challenge, according to the same survey from credit data collection firm […]
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Consumers Pull Debt Delinquencies Down to Record Low
Apr 16th, 2014 @ 7:27 PM by Amber NelsonAmericans managed their debts better in the fourth quarter of last year, according to a new report from the American Bankers Association, with significant improvements in all home-related loan delinquencies. The ABA’s Consumer Credit Delinquency Bulletin reported that its composite ratio of delinquencies in eight types of open-end installment loans fell to 1.59 percent of […]
more »Small Business Lending Fell to 5-Month Low
Apr 9th, 2014 @ 11:13 PM by Amber NelsonUnseasonably harsh weather restricted U.S. small businesses from borrowing more in February, according to a recent index, more an indication of a temporary economic pause rather than a major financial downturn. The Thomson Reuters/PayNet Small Business Lending Index – a measure of total small business lending volume – dropped to a reading of 110.5 in […]
more »Refinancing Continues to Fall As Rates Move Higher
Apr 2nd, 2014 @ 7:58 PM by Amber NelsonHigher mortgage interest rates are taking a bite out of refinancing benefits, according to the Mortgage Bankers Association, bringing down the share of refinance applications. During the week ended March 28, total mortgage applications fell 1.2 percent based on the MBA’s Market Composite Index, a measure of application volume, from the previous week. Last week, […]
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