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Ellie

Millennial homeowners ramp up the refis

Millennials took advantage of mortgage rates falling to near three-year-lows in August, increasing their refinance share to the highest percentage since December 2015,...
FICO score chart 2019

Average FICO score stands at record high | 2019-09-16

The average FICO score stands at 706, a record high, said Ethan Dornhelm, vice president of scores and predictive analytics at FICO. That compares...
MBA Credit Availability July 2019

FICO scores for refi borrowers reach six-year high, Ellie Mae says | 2019-08-26

The average credit score of borrowers who refinanced mortgages in July with loans backed by Fannie Mae and Freddie Mac rose to a...
Experian

Millennial mortgage debt levels could soon top all other generations

Millennial mortgage debt is on pace to reach levels higher than any other generation, according to Experian.Currently claiming the title of most mortgage...
Fannie Mae lowers mortgage rate forecast and says home-price growth will accelerate | 2019-07-16

FHFA flip-flops, won’t blacklist VantageScore as FICO alternative for Fannie and Freddie | 2019-08-13

In a rather surprising development, the Federal Housing Finance Agency announced Tuesday that it will allow Fannie Mae and Freddie Mac to consider using VantageScore as...
Mark Calabria, an adviser to Vice President Mike Pence.

FHFA reverses course, will let VantageScore pitch model to GSEs

The Federal Housing Finance Agency has retreated from an earlier proposal on third-party credit score models by allowing Fannie Mae and Freddie Mac...
Mortgages are now available for borrowers without credit scores | 2019-07-23

CFPB study shows alternative credit models lead to more loans, cheaper loans | 2019-08-08

Over the last several years, there’s been a serious push to get Fannie Mae and Freddie Mac to use newer credit scoring models that...
Ellie

Millennial refinances surge, Fed rate cuts could spark more

Millennials jumped to take advantage of low mortgage rates by refinancing at an increased share of 6 percentage points in June, according to...
Mortgage Credit Availability Index for June 2019

Mortgage borrowers’ FICO scores rise to a 3-year high | 2019-07-25

The average credit score of borrowers who got all types of mortgages in June rose to 731, an almost three-year high, as a...
WaterstoneMortgage

Waterstone Mortgage using nontraditional credit data in underwriting

Waterstone Mortgage is now qualifying borrowers without a traditional credit history for both its conventional and government mortgage programs.The company will underwrite using...

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Mortgage applications increase in spite of interest rate volatility

Mortgage applications increased 0.5% from one week earlier, although interest rate instability affected consumers' ability to get the best price for their loan,...
Maleesa Smith

Embrace Home Loans names new senior vice president, retail and direct sales – HousingWire

Embrace Home Loans, a Rhode Island-based mortgage lender, announced this week that longtime employee Ryan “Buddy” Hardiman is being promoted to senior vice...

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