Bankrate Mortgage Trending
Some of the most useful information in the mortgage market includes knowledge of upcoming rates. We all want to know whether rates will trend upward or downward. Bankrate maintains a "Rate Trend Index" that allows us a peak at potential weekly changes.
Bankrate.com surveys experts in the banking and mortgage fields to see if they believe certificate of deposit and mortgage rates will rise, fall or remain relatively unchanged. Keep an eye on this index to see how the panel predictions slide.
AppraisalComply Automates Commercial Property Appraisals
AppraisalComply product to establish an automated portal for ordering commercial property appraisals. Lenders will be able to order and receive completed commercial appraisals in a more automated and efficient manner than they do today. AppraisalComply is a secure, cost-effective technology solution for lenders to order appraisals and work with their trusted local appraisers to increase the speed of Production and Underwriting while complying with all appraisal regulations.
Consumer Credit Reporting: Compliance GuidelinesCDIA sponsors key information webinar on data reporting.
The reporting of accurate data is an essential obligation of data furnishers under the Fair Credit Reporting Act. To help you stay ahead of the curve, the CDIA Metro 2 ® Format Task Force has updated its popular Metro 2 ® Compliance Guidelines Webinar.
Watch Sarma's Third Party Collections Services Promo
Sarma can meet all your needs to become more profitable. Take a look at our short promotion on what third party collections can do for your business
TransUnion Study Finds Consumers Continue Paying Credit Cards Before Mortgages, Though Change May Be on the Horizon
TransUnion released a study today that reveals the divergence in payment patterns -- where consumers are increasingly apt to pay their credit cards before their mortgages -- has now occurred for three straight years. However, for the first time since the deviation began, the percentage of consumers who are current on their credit cards and at least 30 days delinquent on their mortgage payments has declined.
AppraisalComply Updates Enable Better Communication Between Lenders and Appraisers
New Statuses Provide Quick Assessment of Appraisal OrderAlong with the current statuses the appraiser can update your client with (i.e. attempted inspection, appointment set)
FTC to Host Consumer Debt Collection Technology Workshop
On April 28, 2011, the Federal Trade Commission will host a public workshop to examine how debt collectors are using new technologies and how this affects consumers. The workshop, titled Debt Collection 2.0: Protecting Consumers as Technologies Change, will feature consumer advocates, industry representatives, technologists, academics and government officials.
Recovery Industry Provides Jobs and Lowers CostThe debt recovery industry can receive poor press at times, but its value to the US economy is not only important for businesses, but it is also measurable. ACA is the leading industry organization to promote professionalism and standards in the industry. Below are key figures that show what the industry means to the US economy in measurable terms.
The debt collection industry provides more than 400,000 jobs per year with a payroll of $15 billion.
Debt collection recovers more than $58.8 billion per year for businesses and taxpayers.
- Businesses write off $152.5 billion + in bad debt. Third party debt collectors recover $52 billion +.
- In 2009, municipal governments reported $40 billion in uncollected debt. Third party debt collectors recovered $6 billion for taxpayers.
- In 2009, the federal government reported $30.9 billion in uncollected debt. Third party debt collectors recovered $788 million for taxpayers.
- At least 43 states currently employ third party debt collection to recover taxpayer dollars.
ACA's Collection Clock illustrates the number of collection industry jobs and consumer debt collected since Jan. 1, 2011, based on recent data.
TransUnion: Credit Card Delinquencies Fall by More Than 32 Percent Compared to Same Time Last Year
Holiday Shopping Had Little to No Impact on Credit Card Balances
TransUnion's quarterly analysis of trends in the credit card industry revealed that the national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their bank-issued credit cards) decreased to 0.82 percent in the fourth quarter of 2010, down almost 32 percent year over year. With the economic recovery in full swing, the decrease in the ratio of bank card borrowers delinquent has flattened out considerably; compared to last quarter, credit card delinquencies edged downward by only 1.2 percent.
TransUnion Implements New VantageScore 2.0 Scoring ModelTransUnion announced today that it will be implementing the new VantageScore ® 2.0 Scoring Model as part of its solution set offered to financial institutions.
The model, which is built on a blend of consumer credit bureau behaviors from 2006-2009, shows an improved performance over the original version across the main industries where credit scores are used.