mortgage

How Changes to the Credit Scoring System Could Impact You

September 19, 2014

FICO scores are the most widely used credit scoring formula in the US. (Boomberg) An estimated 90% of all credit loan decisions (such as issuing a credit card or setting an interest rate on a home loan) are processed using this system, leading it to have a dramatic effect on

The Ability-to-Repay Rule: How Does it Affect Consumers?

February 5, 2014

There is a lot to consider when calculating a monthly mortgage payment that fits within your budget. You must first consider your current income, your credit history, other debt, and expenses, and for many it can be confusing or overwhelming. It was this lack of knowledge that led consumers to