credit scores

FHA's capital buoyed by house price appreciation despite higher defaults


The Federal Housing Administration said in its annual actuarial report that capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.


Petal seeks borrowers with blemished credit histories


The company, which provides credit cards to millennials, is expanding its target audience beyond thin-file consumers and those without credit histories. It will now also target those with blemished, nonprime credit histories.


PPP forgiveness, mainframes still mainstream, Marcus's future: Top stories of the week


House forgiveness plan for Paycheck Protection Program loans is better than nothing, bankers say; why some banks still lean on mainframes; what's next for Goldman Sachs's Marcus; and more from this week's most-read stories.


Twitter veteran launches credit score that digs deep into cash flow


Harvest, a fintech founded by Nami Baral, has developed an alternative scoring method that amasses data on spending patterns, debt payments and even earnings potential to get a better sense of consumers' creditworthiness.


Lenders must learn from pandemic-related credit reporting issues


Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again.


Industry bristles at Biden proposal for public credit reporting agency


Banking and credit reporting groups say such an agency could politicize the reporting process. Consumer groups say it would offer consumers a necessary alternative.


Broader PPP forgiveness, Wells bumping its cap, 'no regrets' cost cutting: Top stories of the week


Big banks call for blanket forgiveness of PPP loans under $150,000; Wells Fargo struggling to stay under asset cap amid pandemic, CEO says; banks are getting aggressive — and creative — to boost profits; and more from this week's most-read stories.


Coronavirus still a threat to credit scores despite congressional relief


The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.


The coronavirus could force a full-blown crisis in credit scoring


Lawmakers are working to head off a wave of pandemic-related personal credit downgrades. But there are bigger problems with how credit risk is assessed that are harder to solve.


Alternative data could be lifeline for consumers needing credit


Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.