Incorporating rental history in a borrower’s credit score, as the major credit reporting agencies have begun to do, will significantly increase the number of borrowers able to qualify for loan, a study by Experian has found. The survey of almost 20,000 renters with good payment histories found that 11 percent currently had to credit file;… Read More »

The Consumer Financial Protection Bureau has mandated a massive overhaul of the mortgage disclosure requirements designed in large part to help home buyers shop more effectively for mortgages. An even more serious problem may be that consumers don’t shop for mortgages at all. A CFPB analysis of borrowers who purchased homes in 2013 found that… Read More »

Stricter underwriting guidelines that are making it more difficult for prospective home buyers to qualify for mortgages are also leading more of them to lie on their loan applications. That is how industry analysts are interpreting statistics indicating that 74 percent of the mortgage fraud cases reported to LexisNexis Risk Solutions last year involved falsified… Read More »