Real estate is showing signs of improvement, with Q2 2012 mortgage originations increasing to $436 billion. This represents a 7 percent increase over the previous quarter and an impressive 63 percent increase over the same quarter a year ago. Refinancing activity continues to play a major role in the number of new originations. Listen to [...]

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The November release of the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that most loan types saw an increase in default rates in October. After nine consecutive months of declining default rates, the national composite1 increased to 1.55 percent in October from the 1.46 percent September rate. [...]

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Six states are the top producers of turkeys: Minnesota at 46 million, North Carolina at 36 million, Arkansas at 29 million, Missouri at 17.5 million, Virginia at 17 million and Indiana at 16.5 million. This accounts for nearly two-thirds of turkeys produced in the United States as of September 2012. The average wholesale price for [...]

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Mortgage delinquencies continued to reach multi-year lows with the delinquency rate for those 60 plus days past due falling to 4.68 percent in Q2 2012 compared to 5.04 percent for the same quarter last year. The decline may be the result of lenders further tightening their criteria, as the average VantageScore® credit score for consumers [...]

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With mortgage interest rates at historic lows, the risk of attrition and its impact on ongoing revenue has become a paramount concern for credit unions. By implementing an automated trigger program as part of its member retention efforts, one credit union was able to improve retention rates and grow its portfolio – achieving a return [...]

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When it comes to short sales, a status of “account paid in full for less than full balance” or “settled” will still have a negative impact on a credit score because it means the debt was not paid in full as agreed. According to VantageScore Solutions LLC, a mortgage loan settled through a short sale [...]

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Some borrowers who are deemed subprime by traditional credit scoring criteria are actually quite creditworthy and are identified as prime or near-prime consumers when using the more inclusive VantageScore®. Based on a VantageScore Solutions’ study of infrequent users of credit, 15.5 percent were found to have either prime or super-prime risk. In addition, among new [...]

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The FDIC has proposed a new rule that will change the way large lenders define and calculate risk for their FDIC Deposit Insurance Assessment. The revised definitions in the proposed rule rely on “probability of default” and eliminate all references to the traditional three-digit credit score used to calculate subprime exposure — changing the way [...]

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The cumulative effect of Basel III is expected to have a substantial impact on capital requirements. The total minimum regulatory capital will increase from 8 percent to 10.5 percent. For institutions that are considered “systematically important,” an additional holding requirement may be imposed of up to 3.5 percent. Download our white paper to learn more [...]

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Mortgage origination volumes increased to $427 billion in Q4 2011 – a 31 percent quarterly gain. However, overall 2011 originations of $1.35 trillion were 16 percent lower than 2010 volumes. Sign up to attend our upcoming Webinar, which will focus on current credit trends and feature a closer look at the overleveraged consumer. Source: Experian-Oliver [...]

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