Home-Buying Challenges: Report Finds Homeownership Delays

Homeownership is considered a challenging stepping stone on the path to the American Dream—a fact that is especially true for many millennial and minority consumers. The fifth annual America at Home survey by non-profit NeighborWorks America found that down payment confusion, credit score misinformation and student loan debt are the major obstacles standing in the […]

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How ‘Free’ Is Your State?

How “free” is your state? A recent study conducted by WalletHub identifies the most and least “independent” states based on health- and wealth-related dependencies in five categories: “consumer finances,” such as credit scores and emergency savings; “government,” or federal funding; “international trade,” such as jobs supported by exported goods; “job market,” such as employer-offered retirement […]

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CFPB Explores Alternative Routes for ‘Credit Invisibles’

Twenty-six million Americans are “credit invisible,” or lacking enough credit history to generate a credit score—a factor most lenders use to evaluate loan applications. The Consumer Financial Protection Bureau (CFPB) has begun exploring alternative routes to determine creditworthiness, including cell phone bill and rent payment history, seeking feedback from the public on these and other […]

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Millennial Homebuyers Continue to Migrate Inland

Millennials continue to make their way inland in search of affordable housing, with Minneapolis, Minn. experiencing the most millennial home-buying activity this fall, according to October data from Ellie Mae’s Millennial Tracker, a measure of millennial mortgage applications. Based on the data, Philadelphia, Pa., St. Louis, Mo., Chicago, Ill., and Detroit, Mich., comprised the top […]

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Credit Closes In on Pre-Crisis Benchmark, with Midwest Most Improved

Americans’ credit profiles have recovered extensively since the recession, with the average credit score now closing in on a pre-crisis benchmark. According to Experian’s recently released State of Credit report, the average credit score in the U.S. is 673, six points shy of 679, the average in 2007. The tapering gap represents healthier conditions for housing, which […]

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Is it time to refinance? How to help clients decide

Refinancing a home is a valuable way to save money and ultimately reduce a mortgage payment. At a high level, refinancing means trading a current mortgage loan for a fresh one …

What the Wells Fargo scandal means for mortgage borrowers

When a buyer client sees a news story about something that could affect the home loan, chances are high that real estate agents will be getting some borderline panicked questions in the near future. Fallout from Wells Fargo’s employee cross-selling scandal continues to raise questions about how the bank’s customers were harmed by the illegal scheme — including their ability to access financial products and services like mortgage loans …

Listing 2 Leasing platform aims to modernize rental screenings, transactions

Landlords and rental brokerages in Chicago are familiar with the disconnect between their industry’s growth and available technology to keep their work streamlined and safe. Listing 2 Leasing is aiming to lessen the disconnect by enabling brokers, land…

More than just money: Landlords say most desirable tentant traits include transparency, manners

It’s no secret that landlords prefer tenants with a regular income and decent credit score, but what else do property owners consider top qualifications for good renters …

Do you have ‘average’ credit? If so, getting a mortgage may be tough

In the early 2000s, getting a mortgage was hardly difficult thanks in great part to lax lending standards. This practice eventually led to a bubble forming in the nation’s housing market — which, as we all know, subsequently burst. Since that time, the pendulum has swung the other way — to an extreme …