All Posts Tagged With: "credit score"
Credit & Underwriting Standards Tighten for VA Borrowers
VA loans have weathered the foreclosure crisis better than their major lending counterparts. But they certainly haven’t been immune to the overall tightening that’s taken hold of the industry.
The result is that these highly flexible and forgiving loans aren’t quite as forgiving as they once were.
Tighter Underwriting
More restrictive credit and underwriting standards have no doubt [...]
New Mortgage Loan Protections Outlined in Wall Street Reform
The House Financial Services Committee has released a summary of the major changes included in the Wall Street Reform and Consumer Protection Act. These are items which have been accepted by a conference committee of the House and Senate. If the conference report is passed by both houses, the measure will then go to the [...]
27Jun2010 | Peter G. Miller | 0 comments | Continued
Mortgage Qualifying Improved With Credit Card Change
It’s being widely reported that the Bank of America has decided to eliminate overdraft fees for debit cards. This is a mortgage issue, a consumer issue and a common sense issue that should concern anyone who wishes to finance or refinance a home.
New rules from the Federal Reserve will make it more difficult for lenders [...]
Credit Scores: Why Do The Numbers Change?
Question: My credit score was 670 a month ago, now it’s 650. What happened?
Answer: Credit scores can be seen as pictures which show your credit standing at one point in time. At any other point in time the picture may be different.
Actually, it would be amazing if credit scores did not change — that would [...]
What is credit scoring?
With credit scoring systems where the top figure is “850,” numbers above 620 to 640 are generally acceptable, over 660 will please most lenders and scores above 720 to 740 will cause an outbreak of elation.
Given a higher score, it may be possible to borrow more, borrow with less down, borrow faster, or borrow with [...]
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