Not Just The Times—But The Credit Reports—Keep A-Changing

Changing Credit Reports | SettlementOne

In a year in which it often feels as though the only ‘constant’ is change, you can add millions of the nation’s credit reports to the list of items undergoing transformation in 2017.

While the majority of Americans won’t be affected by these changes, it has been estimated by FICO that between 6-7% of individuals with current credit scores will see their credit reports altered as a result of the removal of tax liens and civil judgments from their reports. Continue reading “Not Just The Times—But The Credit Reports—Keep A-Changing”

Rising Number of Mortgage Applications Signals Housing Recovery

Increase in Mortgage Applications 2017

An increase in the number of mortgage applications means that the housing crisis that played such a major role as both a cause—and effect—of the Great Recession continues to fade into the nation’s rearview mirror.

Even rising interest rates have not, as yet, kept many potential homebuyers from considering a home purchase; as an example, mortgage applications increased almost 1.5 percent in the final week in June. Continue reading “Rising Number of Mortgage Applications Signals Housing Recovery”

An Expert’s View Of The Lending Industry Circa 2017

SettlementOne Q and A With Embrace Home Loans' Kurt Noyce

As any member of America’s lending community knows all too well, achieving—and maintaining—success in 2017’s volatile financial environment is shaping up to be quite a challenge.

From a multitude of promised regulatory revisions to rising interest rates, the lending industry is facing a number of critically important issues, all of which have the potential to dramatically impact lenders’ bottom lines. Continue reading “An Expert’s View Of The Lending Industry Circa 2017”

The Evolving World of Consumer Credit Reports

Public Record Data Changes to Credit Reporting on July 1st

It’s shaping up to be a better year than expected for the credit reports of hundreds of thousands of American consumers.

A recently completed study of millions of credit files by credit score giant FICO found that forthcoming policy changes by the nation’s three credit bureaus—Experian, TransUnion and Equifax—will result in increased credit scores for a large swath of American consumers. While the FICO study found that the majority of consumers likely won’t see any noticeable change in their credit scores resulting from revised credit reports, it also reported that hundreds of thousands of consumers could experience an even larger-than-initially expected bump in their credit scores—as much as 40-60 points, or more. Continue reading “The Evolving World of Consumer Credit Reports”

Changes Are Coming To Americans’ Credit Reports

For many Americans, their credit reports are not unlike their insurance policies—they don’t give them much thought, until the day arrives when the quality of their credit report directly affects them.

Still, whether or not it is given much thought, an individual’s credit history is often of enormous importance—and a significant determinant as to whether someone is granted a loan, or even considered to be ‘reliable’ as a potential employee.

Continue reading “Changes Are Coming To Americans’ Credit Reports”