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Removal of public records has little effect on consumers’ credit scores


Today we released the latest quarterly consumer credit trends report , this time focusing on the removal of civil public records from consumer credit reports.

It's the law: Trump signs off on reg relief bill


WASHINGTON — The most significant regulatory relief legislation since the crisis made it to the finish line Thursday as President Trump signed targeted reforms of the Dodd-Frank Act into law.

CFPB Handles Credit Reporting Issues


As of February 1, the Consumer Financial Protection Bureau (CFPB) has handled close to 185,700 complaints from consumers about credit reporting companies (CRC).

Wells Fargo Loosens Mortgage Standards


The minimum credit score for some mortgages will decrease at Wells Fargo. Instead of 640, the bank will now accept credit scores that are around 600 for originating purchase loans, according to Franklin Codel, a mortgage executive at Wells Fargo.

Pros and Cons of FHA Mortgage Loans


FHA mortgage loans are more expensive than they were in 2013. However, they are assumable, so when a property is sold, the buyer can take the reins of the seller’s FHA loan, not the current mortgage rate.

U.S. Regulators Issue Statement To Reassure Banks


On Friday, Dec. 13 U.S. regulators announced that if banks issue sound loans (like "qualified" mortgages and non-qualified loans), they don't have to worry about supervisory concerns rising. This is a response to new rules from the U.S. Consumer Financial Protection Bureau.

Lenders may get mortgage disclosure trial run


The agency will pay attention to three primary factors: Consumer understanding, cost effectiveness and minimizing consumer risk.

In an effort to make the mortgage industry more transparent, one government agency recently announced some lenders may be able to implement proposed mortgage disclosure guidelines in a trial run.

CFPB, DOJ take on mortgage discrimination


In the wake of the housing market collapse, some lenders implemented stricter credit standards.

When applying for a mortgage, a consumer's credit score is very important.

CFPB examines fraudulent mortgage ads for Veterans, seniors


Some loans offer rock-bottom mortgage rates for Veteran and senior borrowers.

Fraudulent mortgage advertisements can target anyone, but Veterans and senior borrowers may be especially susceptible.

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