Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

The credit reporting industry's trade group, the Consumer Data Industry Association (CDIA) is vigorously disputing much of a CBS 60 Minutes (watch below) report that aired last Sunday, February 10. CDIA has issued a barrage of press releases documenting its correspondence with the show's producers and presenting its responses to the show's assertions. The 60 Minute segment which can be viewed below focused on the dispute resolution process used by major credit reporting agencies (CRAs). It presented...

Mortgage Delinquency Falls To 4-Year Low, But Remains Historically Elevated

TransUnion said today that the serious mortgage delinquency rate is heading downhill at a quickening pace, however long term delinquencies and the slow process of resolving them are impeding a return to more normal rates. According to year-end data from the credit reporting company, the rate of serious delinquencies - 60 days or more - fell 14 percent in 2012 compared to 7% in 2010 and 6% in 2011. By contrast, when rates were rising, from 2007 to 2009, they increased by at least 50 percent each year...

• Freddie Mac: 27% of Borrowers Refinanced into Shorter Term
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• MBS RECAP: Modest Mid-Day Rally, Weaker Since Then
• CFPB: Consumers must not be Collateral Damage in Servicing Transfers
• Nevada Looks to Reduce Shadow Inventory by Purchasing $150M in Delinquent Mortgages
• Mortgage Servicers Modify 850,000 Loans in 2012: HOPE NOW

Micro News

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Today's Comments

	"Maybe we could add #4. Provide the mortgage industry proposed alternatives to CFPB rules to show how we already protect consumers in normal day to day..."
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