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Monday, February 18, 2013
Thursday, February 14, 2013
Tuesday, February 12, 2013
FTC Study Says 1 in 4 Consumers Had Error in a Credit Report From Major Agency
One in four consumers found an error in a credit report issued by a major agency, according to a study released Monday by the Federal Trade Commission. The study also said that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial products. The study looked at reports for 1,001 consumers issued by the three major agencies — Equifax, Experian and TransUnion. The FTC hired researchers to help consumers identify potential errors.
From "FTC Study Says 1 in 4 Consumers Had Error in a Credit Report From Major Agency"
Associated Press (02/11/13) Wagner, Daniel
--BAI
One in four consumers found an error in a credit report issued by a major agency, according to a study released Monday by the Federal Trade Commission. The study also said that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial products. The study looked at reports for 1,001 consumers issued by the three major agencies — Equifax, Experian and TransUnion. The FTC hired researchers to help consumers identify potential errors.
From "FTC Study Says 1 in 4 Consumers Had Error in a Credit Report From Major Agency"
Associated Press (02/11/13) Wagner, Daniel
--BAI
Friday, February 8, 2013
Friday Rate Update
Mortgage Rates Unchanged
The average interest rate on 30-year, fixed-rate mortgages remained unchanged a 3.53 percent this week, Freddie Mac reported yesterday. A year ago, rates for 30-year mortgages averaged 3.87 percent
The average interest rate on 30-year, fixed-rate mortgages remained unchanged a 3.53 percent this week, Freddie Mac reported yesterday. A year ago, rates for 30-year mortgages averaged 3.87 percent
Monday, February 4, 2013
Small Lenders Ride U.S. Mortgage Wave as Big Banks Cut Back
Big banks retrenching and cutting back on mortgage lending after the financial crisis have created an opportunity for smaller firms and community banks such as Guaranteed Rate, an independent mortgage lender. The advent of smaller banks is beneficial for customers, and several smaller lenders say reduced costs, low interest rates, and faster processing times permit them to price more aggressively than the larger banks. Small lenders also are leveraging federal guarantees to make home loans geared toward borrowers with low incomes to a greater degree than the big banks.
From "Small Lenders Ride U.S. Mortgage Wave as Big Banks Cut Back"
Reuters (02/04/13) Sussman, Anna Louie
--BAI
Big banks retrenching and cutting back on mortgage lending after the financial crisis have created an opportunity for smaller firms and community banks such as Guaranteed Rate, an independent mortgage lender. The advent of smaller banks is beneficial for customers, and several smaller lenders say reduced costs, low interest rates, and faster processing times permit them to price more aggressively than the larger banks. Small lenders also are leveraging federal guarantees to make home loans geared toward borrowers with low incomes to a greater degree than the big banks.
From "Small Lenders Ride U.S. Mortgage Wave as Big Banks Cut Back"
Reuters (02/04/13) Sussman, Anna Louie
--BAI
Friday, February 1, 2013
Friday Rate Update
Mortgage Rates Rise
The average interest rate on 30-year, fixed-rate mortgages rose to 3.53 percent this week from 3.42 percent last week, Freddie Mac reported yesterday. A year ago, rates for 30-year mortgages averaged 3.87 percent.
---ABA Daily Newbytes
The average interest rate on 30-year, fixed-rate mortgages rose to 3.53 percent this week from 3.42 percent last week, Freddie Mac reported yesterday. A year ago, rates for 30-year mortgages averaged 3.87 percent.
---ABA Daily Newbytes
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