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CHICAGO, IL–(Marketwire -12/15/11)- At the end of the third quarter 2011, TransUnion’s proprietary Auto Insurance Risk Index experienced a slight increase of 0.03 percent after four consecutive quarterly declines. The index now registers 98.85, three basis points higher than Q2 2011; 31 basis points lower than a year ago at this time; and 73 basis points lower than its recessionary peak in Q2 2009. “When looking at the Auto Insurance Risk I…

Ideally, traditional mortgage brokers want new homebuyers to possess a 20% advance payment when choosing a new home. Thus, if purchasing a $200,000 home, you should be ready to have $40,000 being a advance payment. Unfortunately, many people don’t have this type of money available. With this matter, private mortgage insurance (PMI) was made for mortgage companies to recoup their cash if your homeowner defaults around the loan. There are many loa…

e industry it is in. As I gather from the business model, the market is very competitive. The auto dealers do not care who buys the loan as long as they can transfer the risk for the highest price. Now what will happen to the insurance industry in a recession ? As Buffet points out “At some point – we don’t know when – we will be deluged with insurance business. The cause will probably be some major physical or financial catastrophe. But we could…

…shed by Minneapolis-based FICO, formerly known as Fair Isaac Corp. (FICO), which are used to gauge a consumer’s financial health. The numbers, which range from 300 to 850, affect the ability to get mortgages, credit cards and insurance products, as well as the rates borrowers pay for them. Under current laws, all consumers are entitled to free annual credit reports, not their actual scores. CFPB Report “The law will affect credit-related transa…

…shed by Minneapolis-based FICO, formerly known as Fair Isaac Corp. (FICO), which are used to gauge a consumer’s financial health. The numbers, which range from 300 to 850, affect the ability to get mortgages, credit cards and insurance products, as well as the rates borrowers pay for them. Under current laws, all consumers are entitled to free annual credit reports, not their actual scores.CFPB Report“The law will affect credit-related transactio…

A former credit union employee is being sued after he embezzled more than $200,000 by opening fake auto loans in the names of credit union members. Cumis Insurance Society on Friday filed a lawsuit against Javier Herrera, who worked as the West Valley City branch manager for Utah Central Credit Union from May 2008 until May 2010. Beginning in August 2008, the lawsuit alleges,…

WASHINGTON (AP) — Consumers likely borrowed more in August with much of the increase coming from a rise in student loans.Borrowing increased by $8 billion in August, according to economists surveyed by Fact Set. The report will be released at 3 p.m. EDT Friday.In July, borrowing had risen by $12 billion, the biggest increase in more than three years. The strength that month was powered by pickup in auto sales which pushed auto loans higher. Ther…

Strike, maintenance shutdown hit Maruti; Hyundai bucks the trend The days of runaway growth in the auto market last year seem numbered, with two of the top three carmakers in the country — Maruti Suzuki and Tata Motors — reporting a drop in sales in June. Weighed down by a negative market sentiment because of rising fuel prices, higher borrowing costs and increased vehicle prices, the slowdown in sales last month confirms the trend of t…