Author: Rebecca White

Mortgage Applications Slow Down Even As Rates Remain Low

Demand for mortgages slow down, but applications are still high in comparison to the same period in 2018 Mortgage refinance applications dropped 7%, but they are still 135% higher than this time last year The growing number of refinancing is due to a result of low mortgage interest rates It seems like the demand for […]

Payday Loans Under Scrutiny In Fort Worth City Texas

Fort Worth Council passes new regulations for payday loans. Payday loan lenders downplay impact of payday loan regulations Calls for online lending regulation Fort Worth Council has taken a firm stance against high-interest payday loans. On a Split Vote, the City Council has passed a set of regulations. For the longest time, Fort Worth was […]

Another One? MMP Financial Goes Into Administration, Causing Concern For The Future Of Payday Lenders

Short Term loans lender MMP Financial Limited goes into administration MMP Financial’s payday loans lenders Swift Sterling and My Money Partner halt lending Several payday lenders have collapsed in recent weeks as FCA increases regulatory scrutiny on the affordability of loans In past months some payday loan lenders have gone bust as they face growing […]

Payday Loan Industry Shrinking As Number Of Loans Lent Down By 37% Year On Year

Payday lenders closing trigger loans volume decline Stringent FCA regulations take a toll on Payday loans business Risk of loan sharks may increase as payday loan outlets drop Payday loans could be nonexistent in three years as the effects of Financial Conduct Authority regulations start to bite. A new report by Wagestream indicates that payday […]

U.K P2P Industry In Turmoil Amidst Shutdowns, Lenders Reject Retail Investors Money

UK P2P Platforms Collapse Focus on Institutional Investors in P2P Lending Stringent P2P FCA Regulations The once-booming U.K peer-to-peer-lending industry faces an uncertain future amidst high profile collapses and customer service problems. ThinCats is the latest high profile P2P platform to bar retail investors in its secondary market. The high profile P2P platform has also […]

Starling Follows Monzo, Charges Low Credit Score Clients 35% Overdraft Fees

Starling Bank to move from the 15% flat rate on overdraft fee for borrowing Under new changes, Starling Bank will charge customers varying rates of 15%, 25% and 35% depending on their credit score Other banks have also reviewed overdraft fees and are charging up to 39% Starling Bank has followed Monzo in raising overdraft […]

Monzo Hikes Overdraft Fees For Users With Low Credit Scores

Monzo to charge customers with low credit scores higher overdraft charges Monzo to drop the 50p daily fee charge and start billing them on sliding scale Banks such as HSBC have already instituted the changes in overdraft fees Digital bank Monzo has indicated that customers having a low credit score will be facing higher overdraft […]

Customers Shun New Cars For Used Cars Thanks To Car Finance

The upsurge in car finance demand for used cars Car finance costs on the rise New cars lease on the rise Demand for used cars continues to hit record highs in the U.S. Amidst the unexpected increase, prices for second-hand cars have also started to tick higher. The growth is forcing consumers across the U.S […]

Brutal Arrests Over Payday Loans On The Rise In Utah

Utah booming payday loan industry Influx of payday and title loans providers Payday lenders lobby regulators to shun interest rate caps Arrests Over Payday Loans On The Rise In Utah Payday loans might not be a lifesaver but a source of pressure or cause of arrest. That is the harsh reality that residents in Utah […]

Quicken Loans Could Hit $140 Billion Mortgage Originations

Quicken Loans indicates that it’s on track to reach $140 billion originations in home loans The firm benefitted from a surge in the refinancing of mortgages following the drop in 30-year mortgage fixed rate Quicken Loans in a highly competitive industry and command only 5.7% of market share Detroit-based Mortgage CompanyQuicken Loans has indicated that […]