News

WASHINGTON - The growth in subprime lending to credit-impaired borrowers has opened the door to home-ownership for many consumers that would have otherwise remained shut. But subprime lending to consumers with credit problems has also indirectly given rise to two mortgage processes in the U.S. - one that leaves borrowers...

WASHINGTON - Credit unions would do better to keep an eye on developments with bankruptcy legislation currently in conference committee than economic conditions when trying to predict upswings in mortgage loan delinquency rates. The pattern of low charge-offs will be tied more to bankruptcy legislation than to economic cycles, says...

* 48% of homeowners who currently have a mortgage said they used a bank or a credit union to obtain their mortgage loan. Nearly half said they received their mortgage from other sources for mortgage financing. * Among those who use a bank or a credit union for their mortgage,...

Subprime lending has provided many consumers with blemished credit histories with the key that opens the door to home ownership. But has this practice also inadvertently fostered the rise of a group of homeowners who are dissatisfied and mistrustful of the mortgage process? Read about this and other mortgage-related news...

ALPHRETTA, Ga. - The Equifax Payment Services division of Equifax Inc. has officially changed its name to Certegy,Inc. According to Certegy, Inc. President/CEO Lee A. Kennedy, the new name embodies the concepts of certainty, energy, technology, and strategy, which are the company's core business characteristics. Working with Landor, a national...

AUSTIN, Texas - Internet solutions firm FundsXpress Financial Network, Inc., has partnered with aggregation firm uMonitor, Inc. Under the partnership, FundsXpress will incorporate an account aggregation tool in its product suite, which includes online banking, a portal, an e-wallet, and others. Users will have a single-point log-in to track their...