Sharing A Credit Card Carries Risk

The new CARD Act that passed back in February makes it tougher for college students to get credit cards which, in general, is a good thing. The drawback is that young adults may have a tougher time establishing credit in order to do things like get a car loan or rent an apartment once they’re [...]

Teaching Kids about Credit

With the new credit card regulations, issuers aren’t allowed to offer free gifts to college students in exchange for signing up for a credit card. But that doesn’t mean they won’t still market to them. College kids aren’t quite savvy enough to be very careful and banks assume their parents must have enough money to [...]

Fannie Mae’s “Loan Quality Initiative” and what it means to you !

Loan Quality Initiative
In response to Fannie Mae’s LL 2010-02, we will be implementing guidelines and procedures to ensure compliance with LQI. This will be a work in progress. Expect fine tuning along the way. This applies to loan applications taken on or after June 1st and will only apply to conventional conforming loans.
Undisclosed Debt
We will [...]