A Big Surprise for Lenders in Trended Mortgage Data
National Mortgage News, May 26, 2016–Sinnock, Bonnie
When a consumer refinances or pays off her house in preparation for moving, you might expect her to reduce other debts to help get the new mortgage application approved. But the average prime-credit mortgage borrower doesn’t do this, according to a new report from TransUnion based on so-called trended credit data.
