Smart Borrower Blog

Archive for January, 2016

TransUnion: Personal Loan Popularity Will Increase in 2016

Jan 27th, 2016 @ 8:32 PM by Amber Nelson

The number of personal loans has risen dramatically in the past two years and is expected to grow through 2016, according to new data from TransUnion, a sign of both an improving economy and limited available home equity. “During and immediately following the Great Recession, consumer demand for both secured and unsecured personal loans grew,” […]

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Credit Unions Nab Higher Auto Loan Share

Jan 20th, 2016 @ 8:06 PM by Amber Nelson

Offering lower interest rates than competitors, U.S. credit unions grew their share of auto loans in 2015, according to data from the CUNA Mutual Group. CUNA’s latest Credit Union Trends Report showed that new auto loan balances hit an all-time high of $100 billion as of October 2015, a 1.1 percent increase from the month before […]

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Consumer Delinquencies Rise in Third Quarter

Jan 13th, 2016 @ 10:50 AM by Amber Nelson

Slower economic growth helped push credit delinquencies higher during the 2015 third quarter among American consumers, according to data from the American Bankers Association. In its Consumer Credit Delinquency Bulletin, the ABA reported that the delinquency rate among closed-end loans (installment loans such as car loans and home equity loans) rose to 1.41 percent of […]

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New York Offers 2 Years of Student Loan Forgiveness

Jan 6th, 2016 @ 1:10 PM by Amber Nelson

The state of New York has instituted a new program to help struggling college graduates meet their student loan obligations. New York is the first state to offer an income-based loan-forgiveness program in an attempt to reduce the mounting student loan debt load on its citizens. Called the “Get on Your Feet” program, the Andrew […]

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