Smart Borrower Blog

Archive for March, 2019

FHA Cracks Down on Riskier Loans

Mar 26th, 2019 @ 4:10 PM by Amber Nelson

After noticing worrisome trends in its loan portfolio, the Federal Housing Administration is tightening requirements on its mortgage loans. Starting with loans assigned a case number as of March 18, the FHA will start flagging high-risk loan applications and put them through a manual underwriting process. The rest of its applications will continue to be […]

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Average Car Loan Interest Rates Hit 10-year High

Mar 20th, 2019 @ 10:09 AM by Amber Nelson

Americans love their big trucks and SUVs and that affection is driving average auto loan interest rates to highs not seen in a decade, according to Edmunds. As vehicle prices continue to climb, lenders have been increasing the number of low or zero interest rate programs, which has in turn pushed overall new-vehicle auto loan […]

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Mortgage Credit Availability Rises in February

Mar 13th, 2019 @ 1:59 PM by Amber Nelson

Lenders made mortgage credit slightly easier to obtain in February, according to the Mortgage Bankers Association, being led by a loosening of jumbo loan standards. The MBA’s Mortgage Credit Availability Index (MCAI) inched to 180.1, up 0.6% from January. Increases in the index indicate loosening of mortgage standards while decreases signal tighter underwriting. The MCAI […]

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Small Business Lending Fell 9.7% in December

Mar 6th, 2019 @ 2:49 PM by Amber Nelson

U.S. small businesses pulled back on borrowing money in December 2018, according to recent data from PayNet, perhaps a sign of lower confidence in the overall economy. The PayNet Small Business Lending Index declined 9.7% in December from November, and 7% from the year before. That represents the first yearly decrease in more than a […]

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