Sentences with phrase «more subprime borrowers»

Paul Siegfired, senior vice president for TransUnion, commented that this uptick can also be explained by more subprime borrowers entering the card market — an event that occurs as banks relax their lending standards.

As a result of extensive nationwide consumer outreach, more subprime borrowers recognize they have a choice and are turning to FHA for assistance.

The Experian research also noted that more subprime borrowers are borrowing for new auto purchases.

Not exact matches

Richard Cordray, director of the Consumer Financial Protection Bureau, commented, «Subprime [auto] borrowers may be more vulnerable to predatory practices, so direct oversight of their lending practices is essential.»

Lenders may cut standards more to grab market share as the pace of auto sales slow and the number of subprime borrowers stops expanding, the rating firm said.

The increased competition within the subprime market has resulted in putting borrowers more in control of lending process.

Remember HUD said in early December that «more than 33,000 borrowers have already refinanced their subprime home loans with FHASecure, a government - insured foreclosure avoidance initiative.»

It plainly says that «more than 33,000 borrowers have already refinanced their subprime home loans with FHASecure, a government - insured foreclosure avoidance initiative.»

One possible explanation for this is that smaller banks are more willing to issue new credit cards to subprime borrowers in order to grow their pool of users.

Auto loans to subprime borrowers, with credit scores between 550 and 619, increased by more than 11 % over fourth quarter 2011.

The accusations in the lawsuits include purposely misleading borrowers toward short - term forbearance or deferment instead of the more generous income - driven repayment plans, not keeping borrowers informed of critical income - driven repayment plan re-enrollment deadlines, and handing out subprime, predatory loans to students at schools with a less than 50 percent graduation rate.

While subprime lenders will be more understanding of a borrower's credit score, they will be tougher on their income and cashflow.

Bank risk professionals now believe that lenders will keep allowing subprime borrowers to take on credit card debt and have more access to auto loans over the next six months, -LSB-...]

For more information about upcoming trends, financial resources regarding subprime loans and other options for borrowers with less than ideal credit, visit https://www.800loanmart.com/blog

Bank risk professionals now believe that lenders will keep allowing subprime borrowers to take on credit card debt and have more access to auto loans over the next six months, according to a survey by the Professional Risk Managers» International Association for the credit scoring company FICO.

NEW YORK, June 26 (Reuters)- Delinquency rates are rising for so - called «Alt - A» home mortgages held by U.S. borrowers who are rated above the subprime category but below the more pristine prime borrower, said Standard & Poor's in a report on Tuesday.

The article states that «banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so - called subprime borrowers.

The riskiest of the subprime auto loan borrowers might find more luck in going with smaller lenders that are willing to accept the risk to stay in the lending game.

This is especially true if you are a subprime borrower, as credit unions tend to have more lenient lending standards than banks.

Subprime loans carry more risk to lenders which can lead to higher interest rates for borrowers.

Sallie Mae, the biggest lender to college students in the U.S., said it will stop approving private student loans to subprime borrowers who pose more credit risk.

While Alt - A borrowers typically have credit scores of at least 700 — well above the cutoff for subprime loans — these loans tend to allow relatively low down payments, higher loan - to - value ratios and more flexibility when it comes to the borrower's debt - to - income ratio.

Problems for borrowers with subprime home loans are now spreading into more conventional home mortgages.

With the combination of higher interest rate costs and bad credit habits, it should be no surprise that subprime borrowers are 4 to 5 times more likely to default than prime borrowers.

Unfortunately, during the same time that subprime borrowers became more involved in the American housing market, more variable - rate mortgages were issued by lenders.

In 2004, as regulators warned that subprime lenders were saddling borrowers with mortgages they could not afford, the U.S. Department of Housing and Urban Development helped fuel more of that risky lending.

Also, many more mortgages were issued to risky subprime borrowers.

Some loan officers may push borrowers into a subprime loan simply because they're easier to get approved and there is often more profit for the loan officer.

By approving of the modernization reforms, Montgomery claimed that the «FHA could potentially assist tens of thousands more borrowers who need an exit strategy from their subprime mortgages.»

Subprime lending is riskier, because borrowers are more likely to default.

It is a similar story in credit card lending, with lenders providing less credit to subprime borrowers and focusing more heavily on better qualified applicants.

Fratantoni adds that there has been a more growth in the subprime market than in the prime market simply because prime borrowers always have been able to get loans.

With this new structure, the FHA would not only be able to reach thousands more borrowers, but it would present «a safer, more affordable financing option than many subprime loans,» according to Montgomery.

Many lenders will also have a minimum credit score, though those specializing in subprime borrowers will be more lenient.

By 2009, 50 % of those subprime mortgages were «underwater», meaning that borrowers owed more money on the mortgage than the home was worth.

Highlights: LendUp customers are improving their credit scores more than a control groupThe longer someone has been with LendUp, the more likely their credit score has increasedThis matters because individuals with subprime credit scores have limited access to new credit - building opportunities Helping Borrowers: Why Improving Credit Scores MattersLendUp's mission is to provide anyone with a path -LSB-...]

Legislation making more FHA loans available to subprime borrowers facing foreclosure has strong support.

Subprime borrowers have easier time getting car loans — Unlike with credit cards, auto loans are becoming more available for borrowers with blemished credit... (See Auto loans)

Auto loans to people with tarnished credit have risen more than 130 percent in the five years since the immediate aftermath of the financial crisis, with roughly one in four new auto loans last year going to borrowers considered subprime — people with credit scores at or below 640.

Insurance of the loan by the FHA reduces the risk faced by the lender when making a loan to a subprime borrower, thus making them more likely to do so.

The group includes in the filing a study that found African - Americans living in the Detroit area were 70 percent more likely to wind up with a subprime loan than were white borrowers with similar financial characteristics.

Thanks to programs such as those proposed by Fannie Mae and Freddie Mac to assist subprime borrowers, many lenders are more willing to offer loan modification options.

For a typical consumer, that shift can translate to their monthly payment more than tripling, a particular burden for the subprime borrowers that often took out these loans.