Only 21% of people understand what low credit will do to their loans

A recent analysis by Zillow found that homebuyers with lower credit scores pay thousands of dollars more for the same property compared to buyers with high credit scores.

LendingTree launches free credit analyzer tool

The online loan marketplace added the credit and debt analysis tool to its site, where users can answers questions about financial goals (for example, making a down payment or improving their credit) and then get algorithm-based recommendations for how…

Inside the mind of the modern homebuyer

The results of Experian’s 2017 Homebuyers Survey revealed that some potential buyers are steering away from homeownership due to affordability, credit or lifestyle preferences while others are working hard to overcome the setbacks keeping them from pur…

What real estate agents should know about trended credit

A snapshot tells you what someone looked like at a particular moment in time. A long-running video of the same person may reveal patterns of behavior that tell you much more about a person …

What real estate agents should know about trended credit

A snapshot tells you what someone looked like at a particular moment in time. A long-running video of the same person may reveal patterns of behavior that tell you much more about a person …

Why Trump’s administration could mean better days for marginal buyers

For an administration sworn to diminish the role of government, housing is a good place to start. Changes in store on two fronts — privatization of Fannie and Freddie and repeal or major reform of Dodd-Frank regulations — will make it easier for mill…

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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Refi Applicants Discouraged by Limited Credit Access

The proportion of consumers who applied for credit and reported feeling “discouraged” by or “rejected” in their experience has clawed higher, especially among mortgage refinance applicants, in the Federal Reserve Bank of New York’s recently released Survey of Consumer Expectations (SCE) Credit Access Survey for October 2016. The finding underscores the overall sentiment of the consumers surveyed, […]

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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 …

Why every new-build buyer needs a savvy agent

Many homebuyers are open to buying a new home. If new homes are part of your marketplace, educate your buyers about why they need a savvy agent representing them rather than entering a dual agency relationship with the builder’s in-house sales staff …