Author: Akbar Lashari

Compared to other under-served factions of society, self-employed applicants have the lowest approval rates in the mortgage industry. Lack of employment history and insufficient accommodation of factors specific to the self-employed have been identified as core reasons for this gap. Self-employed applicants have suggested a more focused financial test for the evaluation of mortgage applications […]

The Consumer Financial Protection Bureau (CFPB) has come under fire by Maxine Waters, who has blamed its head Kathy Kraninger of weakening it. Waters has argued that recent actions taken by Kraninger have undermined the role of the CFPB and exposed many consumers to predatory creditors. In recent remarks that have been made by Maxine […]

The Federal Reserve has included a special factor to measure the impact of leveraged loans if an economic recession hits. The move has been made due to increasing concerns that the corporate sector has become increasingly geared, as loans have been provided at a staggering rate to companies including those that are already highly geared. […]

The breathing space would stop creditors from enforcing action and/or interest against borrowers with problem debt, or those facing mental health issues, for a period of 60 days each year. Implementation of this announced breathing space is expected in early 2021. Breathing space also includes increased access to financial advice to make people more financially […]

The company has agreed to settle the charge by paying $350,000. This consent agreement would undergo public comments for 30 days before being finalized by the commission. As per the allegations, LendEDU took money from advertisers and offered them favored positions on its website. It also posted fake reviews for advertisers, prompting users to subscribe […]

Reports have indicated that the payment service provider Visa would soon apply variable interchange rates to merchants in the US. Once implemented, some merchants would have to pay more for accepting payments on Visa cards, including e-commerce platforms, while others including the rale estate category would have to pay less. According to reports, it has […]

The decline in mortgage rates has positively impacted homebuying in the US, driving down mortgage prices and making them more affordable. Current average rental and mortgage amounts on a monthly basis stand at a difference of under $300. In many counties, home renters may want to reevaluate whether buying a home is a cheaper option […]

The banking giant Goldman Sachs is reportedly in the final stages of discussion with Amazon to develop a collaborative lending service for small and medium enterprises. The bank has already made a commitment to expand its consumer network in the country by offering more consumer-focused services. Recently, the bank partnered with Apple to co-launch the […]

Both the 30-year and 15-year fixed-rate mortgage have declined in the past week, standing at 3.51% and 3%, respectively. The decline has come due to a slowdown in global markets, which has prompted a reduction in the benchmark interest rate in the US. A cure for coronavirus, once discovered, could cause mortgage rates to increase. […]