Fitch Issues U.S. Utility, Power & Gas Criteria; Publishes Guideline Ratios (Business Wire via Yahoo! Finance)
Before beginning a full-scale attack on one’s bad credit and repair of a negative credit report the person must first address each of the negative items and resolve them. Resolution may take many forms, which we will explore here. From a credit repair standpoint the significant starting point is “closing the book” on each of the bad credit items on the credit report. A horrible but old and closed bad credit item most often gets viewed better than an open current bad credit item. Believe it or not, a viable resolution method turns out to be a Chapter 7 bankruptcy. In this context the bankruptcy paves the way to the first step of credit repair by putting an end to the old bad credit items. While bankruptcy adds it’s own significantly terrible credit reporting item, bankruptcy by definition will be “resolved” when the case ends. In the early stages of bad a credit incident the easiest and best solution can be catching up on a payment. As with many of the circumstances we will discuss the prior late payment will still appear on the credit report. The important point being discussed in this section is resolving the initial issue. Catching up on a past due payment constitutes resolution. When payments continue delinquent for a long enough time catching up may become out of reach. Negotiating a payment plan with the creditor either directly or with the aid of a credit counselor constitutes resolution of the item for credit repair purposes. Settlement of a debt, even at a fraction of the original amount due, means resolution.
Fitch Issues U.S. Utility, Power & Gas Criteria; Publishes Guideline Ratios (Business Wire via Yahoo! Finance)
NEW YORK----Fitch Ratings has published new rating criteria for the U.S. utility, power and gas group, with a focus on relative business and operating risks. The analysis of these risks is central to the rating process for companies in the gas and electric sector.
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Mortgage borrowers, brokers facing higher hurdles to home loans (Naples Daily News)
Mortgage broker Ed Smith Jr. has been arranging home loans for 24 years and it's never been tougher for him to close a deal than during the past few weeks of turmoil.
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Home loan hurdles growing (The Cincinnati Enquirer)
As more lenders collapse, the skittish survivors are raising their rates and changing the rules for getting a loan every few hours as they scramble to stay alive.
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CPS rating unchanged (The Cincinnati Enquirer)
Cincinnati Public Schools narrowly retained its "continuous improvement" rating in the 2006-07 school year, thanks to strong marks at the high school level that overcame continued failures at the system's elementary buildings.
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Borrowers, brokers face high hurdles for home loans (Provo Daily Herald)
SAN FRANCISCO -- Mortgage broker Ed Smith Jr. has been arranging home loans for 24 years and it's never been tougher for him to close a deal than during the past few weeks of turmoil.As more lenders collapse, the skittish survivors are raising their rates and changing the rules for getting a loan every few hours as they scramble to stay alive.
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Mortgage Mess Creates Lending Drought (The San Francisco Examiner)
(AP Photo/Nati Harnik) An unidentified person walks out the door of the Countrywide Home Loan offices, in Omaha, Neb., Thursday, Aug. 16, 2007. The nation's largest mortgage lender borrowed $11.5 billion from a group of 40 banks to fund loans, in a move that shows just how deep the lending crisis has become.
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p0763 BC-MortgageMess 1stLd-Writethru 08-17 0968 8/17/2007 (Hays Daily News)
Eds: CORRECTS wording in 10th graf to reflect jumbo rates are 0.75 to 1.25 percentage points above rates for mortgages below $417,000. Moving on general news and financial services.
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Africa: Africa Needs to Scale Up ICT Development (AllAfrica.com)
AFRICA needs to scale up efforts in the development and application of information and communication technologies in all the sectors of the economy to compete globally.
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Revealed: Salmond's strategy for a war of independence (The Scotsman)
JUST before midday today, Alex Salmond will publish the first official government document to advocate Scottish independence and the break-up of the UK.
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Same Standards as Restaurants, Wildly Different Challenges (The Press-Enterprise)
Hours before the Lake Elsinore Storm lost 12-5 on June 4, the baseball stadium concession stands were getting scorecards of their own.
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Fitch Issues U.S. Utility, Power & Gas Criteria; Publishes Guideline Ratios (Business Wire via Yahoo! Finance)
This system, while perhaps unfair to some, will be great for those who maintain impeccable credit. It's one way that good credit risks can be rewarded. In the past year, we in the industry have already seen a dramatic reduction in paperwork requirements and "risk-based" pricing (rates and fees) has become commonplace.
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