- Many borrowers say the mortgage process is a major pain. At a time of super-strict underwriting standards, record-high credit-score requirements and hard-wired debt-to-income cutoffs, has the process of applying and qualifying gone a little over the top? Many applicants and borrowers apparently think so. Two…
- Consumer Action INSIDER - March 2017. The March 2017 issue of Consumer Action's monthly newsletter teaches you how to understand your credit score better; updates you on a new study on how communities are pushing back against payday lending; details our latest financial counseling webinar (co-hosted with FICO); outlines recent California legislation impacting consumer privacy and more.
- Little credit history? Lenders are taking a new look at you. About 45 million Americans lack traditional credit files, and the federal government is looking into whether alternative credit scoring models could bring more of these consumers into the financial mainstream. The Consumer Financial Protection Bureau…
- Score one for the bank whistle-blowers. Here is something to celebrate: The United States Supreme Court just handed whistle-blowers one of their bigger wins in a long time. The Supreme Court essentially confirmed that some courts have been using too narrow…
- Las nuevas hipotecas inversas son más seguras, pero siguen siendo una opción costosa. Querida Liz: Si nunca has escrito sobre las nuevas hipotecas inversas, por favor considéralo. Tengo casi 90 años y esta hipoteca de conversión del patrimonio del hogar (HECM, por sus siglas en inglés) suena demasiado…
- For millennials ready to buy a home, pickings are slim. Low housing inventory, especially for starter homes, is one factor.
- Many report surprises despite rules to clarify home buying. Everyone knows that financing and closing on a home purchase can be complicated. That is why more than a year ago, the Consumer Financial Protection Bureau issued a set of disclosures and rules designed to…
- The mortgage market is now dominated by non-bank lenders. The landscape of the lending market has shifted dramatically over the past few years from domination by big banks to a market where more loans are made by non-banks — financial institutions that only make…
- Two-thirds of Americans will never retire at this rate. Less than one-third of Americans are saving money in their 401(k)s and other workplace retirement accounts, according to an analysis of tax records by Census Bureau researchers.
- Republicans make killing consumer protections a top priority. There’s a lot important stuff going down that our leaders need to deal with — immigration, climate change, Russians running amok. So what are Republican lawmakers doing? They’re busy with legislation aimed at stripping Americans…
- How big do you want your nest egg to be?. Money may not buy happiness, but it can certainly buy freedom and security, which contribute mightily to happiness.
- CFPB, Cordray, win second chance to avoid a trump firing. The Consumer Financial Protection Bureau and embattled director Richard Cordray won a second chance to defend his independence from the political pressure of being fired at any time for any, or no, reason by President…
- La Opinión presenta la Guía Comunitaria. Elaborada de forma conjunta con 20 organizaciones comunitarias, contiene información relevante bilingüe sobre inmigración, salud, vivienda... En presencia de representantes de diferentes organizaciones proinmigrantes y prolatinas del sur de California, el periódico La Opinión anunció…
- Republican senators start attack on U.S. consumer financial watchdog. Republicans lawmakers are starting to put in motion plans to destroy or defang the U.S. agency intended to protect individuals from financial fraud. The agency focuses on financial products such as mortgages and student loans.
- Days may be numbered for consumer complaint database. A government complaint database that helps consumers resolve grievances with financial institutions is one of several services that could soon be eliminated, according to a memo by House Financial Services Committee Chairman Rep. Jeb Hensarling…
- Where have all the borrowers gone?. A recent report from the Mortgage Bankers Association showed that mortgage credit availability is increasing, meaning it’s getting easier to get a mortgage and has been since 2011. Or so it would seem… A new…
- FHA loans were getting cheaper until Trump suspended rate cut. Now what?. An hour after Donald Trump took the oath of office last month, his administration caught the attention of the real estate industry when it abruptly suspended a planned cut in Federal Housing Administration mortgage-insurance premiums. Despite…
- Here’s how Trump could dismantle Wall Street reform. For years, Wall Street has complained that restrictions placed on the industry after the financial crisis went too far and were too costly. Those concerns didn’t generate much sympathy — until now. President Trump has…
- Dems fight Trump's takedown of Dodd-Frank. Democrats are preparing for a battle over President Trump’s push to dismantle the Dodd-Frank financial reform law, which analysts said will be difficult to accomplish without bipartisan support.
- How to take care of your house like you’re selling it. It’s best to take extra special care of your home long before you even consider putting it on the market. Here’s how to see your home with a buyer’s eye so you can avoid problems…
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