Wednesday, October 31, 2012

Pleasant news: Mortgage rates rose slightly

Mortgage rates rose slightly on Tuesday, even though financial markets were fully closed due to Hurricane Sandy.  The market closure meant that there was no trading on the secondary mortgage market, but most lenders remained open, and released rate sheets accordingly.

Tuesday, October 30, 2012

FICO researchers explain how to earn high credit scores!

Bankers helped enrich the lives of more than 130,000 American children by participating in Get Smart About Credit Day during October. The American Bankers Association Education Foundation and its partner banks staged financial literacy events in over 450 communities.

Monday, October 29, 2012

Four tips on how to avoid credit repair scams.

Lenders use your credit score to measure your ability to repay debts. The better your score is, the more likely you are to qualify for credit cards and loans at favorable interest rates.

Friday, October 26, 2012

Innovation: IBT has developed a strategic identity theft prevention plan with Red Flag Alerts in Real-Time

IBT, a leading innovator of best of breed solutions of cost effective enterprise-wide technology for financial institutions, now offers real-time red flag alerts to its fraud prevention initiatives product suite for Internet banking and mobile banking.

Thursday, October 25, 2012

Will introduce new rules to control debt collection

The country's largest debt collection companies will face new oversight starting in January, the federal consumer watchdog agency said Wednesday -- a move designed to ensure that businesses play by the rules in their contacts with consumers.

Wednesday, October 24, 2012

The basic principles of saving accounts

The banking profession is almost as old as civilization itself. In their simplest form, banks took the money of a large number of people and lent that money to borrowers.

Tuesday, October 23, 2012

Spyware snooping around your credit card

Your credit card could soon be tattling on you to marketers.

At least that’s the conclusion being drawn by the Financial Times and Wired after analyzing an online presentation from MasterCard, offering up cardholder data to online marketers looking to zero in on holiday shoppers (the presentation has since been taken down).

Monday, October 22, 2012

Mortgage Rates Finally Hold Their Ground

After moving higher every day this week mortgage rates finally held their ground today.  Despite moderately lower Treasury yields and healthy improvements in the mortgage-backed-securities market, the actual rates that made their way onto lenders' rate sheets represented more of a "ground-holding" than a triumphant "bounce back" to previously lower levels.

Friday, October 19, 2012

Data helps MasterCard and its partners determine advertising that would be most attractive to the credit card user.

Data into DollarsMasterCard, the largest global payment network, is under scrutiny for a data digging project that raises some concerns about privacy. The company was said to have launched a new business whereby it uses consumer data to determine more about their users. This information is then sold to third parties for advertising and marketing campaigns.

Thursday, October 18, 2012

Possibility of finding a Reward Card for budget hotels

Free airline flights are easily the best known travel rewards perks. However, for frequent travelers, cashing in travel rewards for free hotel stays can offer great value, particularly when traveling to big cities where hotels can easily cost upwards of $300 a night.

Wednesday, October 17, 2012

Restaurant owners reject proposed Visa, Mastercard

The country's largest restaurant trade group joined a chorus of detractors claiming that a proposed settlement over credit card interchange fees doesn't go far enough to foster competition among merchant banks. In a statement to reporters, Dawn Sweeney, President and CEO of the National Restaurant Association, said that the pending deal with Visa, MasterCard, and a host of member banks will not "fundamentally change a broken marketplace in which swipe fees are set."

Tuesday, October 16, 2012

Mortgage Rates interest rates remain conventional loans at 3.25%

After managing to improve on Thursday and Friday,mortgage rates begin the current week slightly higher.  Even so, the changes between Friday and today are minimal in most cases and several lenders are actually unchanged or slightly lower in rate/fee.  This leaves the prevailing Best-Execution rate for 30yr fixed, conventional loans at 3.25%.

Monday, October 15, 2012

Some ways to part with your credit card

It was love at first swipe: That shiny piece of plastic caught your eye, every purchase brought a thrill and you planned on a bright future together.

Friday, October 12, 2012

Mortgage rates welcome improvement items!

Mortgage rates finally improved on Thursday after moving sideways or higher since last Thursday.  The drop in rates/costs was broad-based with less of the stratification between lenders noted yesterday. 

Thursday, October 11, 2012

Banks have been aggressive in lending only to customers with good or better credit scores.

Consumer LendingBanks are stocking up on cash in a move that may soon put more credit cards, car loans, and consumer loans in the hands of consumers. The market for asset-backed securities is stronger than ever, suggesting that credit card rates may be headed lower, and rewards may be getting even juicier.

Tuesday, October 9, 2012

FTC prevent fraud with platinum credit card

Marketers behind the "Platinum Trust Card" and the "Express Platinum Card" can never sell credit cards or make cold calls again, according to the Federal Trade Commission.

Monday, October 8, 2012

Risk management Regulations drafted in the wake of the global financial crisis!

Bank executives like to say that their most important job is managing risk. This does not mean they’re good at it. Banks the world over have often failed to monitor hazards properly, blowing up spectacularly every few decades.

Friday, October 5, 2012

Ten steps to correct errors in credit reports!

If you've already spent the past several months -- or even years -- trying to scrub errors from your credit reports, it may feel like you have no choice but to live with the inaccurate marks.

Thursday, October 4, 2012

The national average annual percentage rate (APR) on new card offers has stayed at 15 percent

Interest rates on new credit card offers remained at 15 percent on Wednesday, according to the Weekly Credit Card Rate Report.  After hovering just below 15 percent for two consecutive months, the national average annual percentage rate (APR)  on new card offers has stayed at 15 percent for the past three weeks.

Wednesday, October 3, 2012

Master Card provides ATM network to support EMV

MasterCard officials expanded its roadmap for EMV debit and credit card technology to include automatic teller machines. After October 2016, banks can hold ATM operators liable for fraudulent withdrawals and cash advances from debit and credit cards.

Tuesday, October 2, 2012

Mortgage rates have started a small increase

Mortgage rates moved gently lower to begin the week (and month), ending a two day run toward higher rates on Thursday and Friday.  Trading levels in the secondary mortgage market began the day in the same territory as Friday afternoon and gradually improved throughout the day. 

Monday, October 1, 2012

Groupon announced a new service to process mobile payments!

Mobile Payment Processing PartyBetter known for coupons than credit cards, internet discount company Groupon announced a new service to process mobile payments. The company says it will seek to develop a system that charges the “lowest rates in today’s marketplace”.