Despite Delay, TRID Preparation Still a Concern for the Financial Industry

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A hoped-for reprieve materialized, but lenders shouldn’t stop preparing for a brave new world of loan disclosures. The Consumer Financial Protection Bureau (CFPB) issued the TILA-RESPA Integrated Disclosure (TRID) rule in 2013. It was scheduled to take effect Aug. 1. But in mid-June, CFPB Director Richard Cordray issued a statement that it would delay the [Read More…]

Data-Driven Segmentation Helps Banks Go After the Right Mortgage Candidates with Speed

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Proactive approach reveals consumers looking for home loans and who among them may present the lowest risk for banks. We’re in the middle of the summer home-selling season, and — for the first time in several years — consumers have warmed up to the idea of purchasing new homes. Nearly three-quarters of respondents to a [Read More…]

Millennials, Mortgages and Student Debt

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Student Debt is One of the Reasons Young Adults Are Now Less Likely to Borrow Money to Buy a Home Twenty-somethings are not borrowing money to buy homes at the rate they were a decade ago—a trend that may have as much to do with high levels of student debt and poor job prospects as [Read More…]

Webinar: The HELOC Landscape – Risk Management and Customer Retention

Upcoming HELOC webinar

Webinar: The HELOC Landscape: Risk Management and Customer Retention Date: Thursday, July 23, 2015 Time: 1:00 PM ET According to the latest Equifax National Consumer Credit Trends Report, U.S. consumer appetite for home equity lines of credit (HELOCs) is increasing. More than 1.2 million new HELOCs were opened in 2014, a 15.8% increase over 2013. [Read More…]

WSJ: Home-Equity Lines of Credit See Jump in Delinquencies

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Equifax data cited in The Wall Street Journal shows that borrowers who signed up for home equity lines of credit (HELOCs) in 2004 were 30 or more days late on $1.8 billion worth of outstanding balances just four months after principal payments started kicking in — which represents 4.3% of the balance on outstanding 2004 [Read More…]

Housing Inventory Remains Tight

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Many major U.S. markets still don’t have housing supply to meet demand, but theories differ about what’s behind the inventory shortage This much is certain: Housing inventory is still tight in many major U.S. markets. May’s inventory was down 15.7% year over year, according to data from the National Association of Realtors. What’s less certain is what [Read More…]

King v. Burwell: Subsidies Stand

The U.S. Supreme Court has issued a ruling in the King v. Burwell case stating that the Affordable Care Act (ACA) does in fact allow the Internal Revenue Service (IRS) to provide Premium Tax Credits, or subsidies, for health insurance provided under the Federal Marketplace. Although the language of the law states that subsidies are [Read More…]

Webinar – ACA is Here to Stay: Best Practices for ACA Management

Legislative Update

Webinar – ACA is Here to Stay: Best Practices for ACA Management Tuesday | July 7, 2015 | 1:00 PM EDT The Supreme Court has issued a ruling in the King v. Burwell case upholding Premium Tax Credits, or subsidies, for health insurance provided under the federal Marketplace. But what does this mean in terms [Read More…]

What Banks and Credit Unions Can Do To Help Reduce HELOC Delinquency Risks

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With better data and analysis, lenders can be more prepared for home equity lines of credit recasts — and even take advantage of HELOC recasts to aid business growth. Here’s an interesting statistic: Over half of the home equity lines of credit (HELOCs) in the market — roughly 5.8 million — were originated during the housing [Read More…]

Webinar Recap – ACA IRS Reporting with Intuit and Equifax

Alternative data tools help your bank meet today's big challenges.

Two weeks ago, Equifax published a survey with PwC on employers’ preparedness for ACA IRS reporting. The results were intriguing, and we wanted to learn more. So during a recent webinar with Intuit, the provider of Turbo Tax® software, we polled the audience and the outcome further proved that employers need an expert in their [Read More…]