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Credit Score In The United States
A credit score is a number that provides a comparative estimate of an individual's creditworthiness based on an analysis of their credit report. It is an inexpensive and main alternative to other forms of consumer loan underwriting. Lenders, such as banks and credit card companies, use credit scores to evaluate the risk of lending money to consumers. Lenders contend that widespread use of credit scores has made credit more widely available and less expensive for many consumers. Under the Wall Street reform bill passed in 2010, a consumer is entitled to receive a free report of the specific credit score used if they are denied a loan, credit card or insurance due to their credit score. History Before credit scores, credit was evaluated using credit reports from credit bureaus. During the late 1950s, banks started using computerized credit scoring to redefine creditworthiness as abstract statistical risk. The Equal Credit Opportunity Act banned denying credit on gender or mari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Creditworthiness
A credit risk is risk of default on a debt that may arise from a borrower failing to make required payments. In the first resort, the risk is that of the lender and includes lost principal and interest, disruption to cash flows, and increased collection costs. The loss may be complete or partial. In an efficient market, higher levels of credit risk will be associated with higher borrowing costs. Because of this, measures of borrowing costs such as yield spreads can be used to infer credit risk levels based on assessments by market participants. Losses can arise in a number of circumstances, for example: * A consumer may fail to make a payment due on a mortgage loan, credit card, line of credit, or other loan. * A company is unable to repay asset-secured fixed or floating charge debt. * A business or consumer does not pay a trade invoice when due. * A business does not pay an employee's earned wages when due. * A business or government bond issuer does not make a payment on a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TransUnion
TransUnion is an American consumer credit reporting agency. TransUnion collects and aggregates information on over one billion individual consumers in over thirty countries including "200 million files profiling nearly every credit-active consumer in the United States". Its customers include over 65,000 businesses. Based in Chicago, Illinois, TransUnion's 2014 revenue was US$1.3 billion. It is the smallest of the three largest credit agencies, along with Experian and Equifax (known as the "Big Three"). TransUnion also markets credit reports and other credit and fraud-protection products directly to consumers. Like all credit reporting agencies, the company is required by U.S. law to provide consumers with one free credit report every year. Additionally a growing segment of Transunion's business is its business offerings that use advanced big data, particularly its deep AI-TLOxp product. History TransUnion was originally formed in 1968 as a holding company for Union Tank Car C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Lending
In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied over time. These loans are characterized by higher interest rates, poor quality collateral, and less favorable terms in order to compensate for higher credit risk. Many subprime loans were packaged into mortgage-backed securities (MBS) and ultimately defaulted, contributing to the financial crisis of 2007–2008.Lemke, Lins and Picard, ''Mortgage-Backed Securities'', Chapter 3 (Thomson West, 2013 ed.). Defining subprime risk The term ''subprime'' refers to the credit quality of particular borrowers, who have weakened credit histories and a greater risk of loan default than prime borrowers. As people become economically active, records are cre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NerdWallet
NerdWallet is an American personal finance company, founded in 2009 by Tim Chen and Jacob Gibson. It has a website and app that earns money by promoting financial products to its users. History NerdWallet was founded in August 2009 by Tim Chen and Jacob Gibson, with an initial capital investment of $800. Its first product was a web application that provided comparative information about credit cards. Subsequently, it generated large quantities of content to help boost its search engine results. Website traffic grew quickly in 2010 and, by March 2014, the website had up to 30 million users. The following year, it raised $64 million in its first round of funding, at an estimated valuation of $500 million. In 2016, the company acquired the retirement planning firm AboutLife, and was valued at $520 million. In 2017, company growth slowed, resulting in the layoff of 11 percent of its employees. In August 2020, the company expanded its footprint into the UK by acquiring Know Your Mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Washington Post
''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large national audience. Daily broadsheet editions are printed for D.C., Maryland, and Virginia. The ''Post'' was founded in 1877. In its early years, it went through several owners and struggled both financially and editorially. Financier Eugene Meyer purchased it out of bankruptcy in 1933 and revived its health and reputation, work continued by his successors Katharine and Phil Graham (Meyer's daughter and son-in-law), who bought out several rival publications. The ''Post'' 1971 printing of the Pentagon Papers helped spur opposition to the Vietnam War. Subsequently, in the best-known episode in the newspaper's history, reporters Bob Woodward and Carl Bernstein led the American press's investigation into what became known as the Watergate scandal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Median
In statistics and probability theory, the median is the value separating the higher half from the lower half of a data sample, a population, or a probability distribution. For a data set, it may be thought of as "the middle" value. The basic feature of the median in describing data compared to the mean (often simply described as the "average") is that it is not skewed by a small proportion of extremely large or small values, and therefore provides a better representation of a "typical" value. Median income, for example, may be a better way to suggest what a "typical" income is, because income distribution can be very skewed. The median is of central importance in robust statistics, as it is the most resistant statistic, having a breakdown point of 50%: so long as no more than half the data are contaminated, the median is not an arbitrarily large or small result. Finite data set of numbers The median of a finite list of numbers is the "middle" number, when those numbers are list ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cox Media Group
CMG Media Corporation (doing business as Cox Media Group) is an American media conglomerate principally owned by Apollo Global Management in conjunction with Cox Enterprises, which maintains a 29% minority stake in the company. The company primarily owns radio and television stations—many of which are located in the South, Pacific Northwest, Eastern Midwest, and Northeast, and the regional cable news network Pittsburgh Cable News Channel (PCNC). Originally founded in December 2008 by Cox Enterprises through a consolidation of its existing publishing and broadcasting subsidiaries, the current incarnation of Cox Media Group was formed on December 17, 2019, through the acquisition by Apollo of the original Cox Media Group (along with Cox Enterprises’ advertising subsidiary, Gamut) from Cox Enterprises, which transferred a controlling interest in the company to Apollo, and Northwest Broadcasting from Brian Brady. History In December 2008, Cox Enterprises created Cox Media ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Atlanta Journal-Constitution
''The Atlanta Journal-Constitution'' is the only major daily newspaper in the metropolitan area of Atlanta, Georgia. It is the flagship publication of Cox Enterprises. The ''Atlanta Journal-Constitution'' is the result of the merger between ''The Atlanta Journal'' and ''The Atlanta Constitution''. The two staffs were combined in 1982. Separate publication of the morning ''Constitution'' and the afternoon ''Journal'' ended in 2001 in favor of a single morning paper under the ''Journal-Constitution'' name. The ''Atlanta Journal-Constitution'' has its headquarters in the Atlanta suburb of Dunwoody, Georgia. It was formerly co-owned with television flagship WSB-TV and six radio stations, which are located separately in midtown Atlanta; the newspaper remained part of Cox Enterprises, while WSB became part of an independent Cox Media Group. ''The Atlanta Journal'' ''The Atlanta Journal'' was established in 1883. Founder E. F. Hoge sold the paper to Atlanta lawyer Hoke Smith in 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alternative Financial Services In The United States
Alternative financial services in the United States refers to a particular type of financial service, namely subprime or near-prime lending (that is, lending to people with relatively poor credit) by non-bank financial institutions. This branch of the financial services industry is more extensive in the United States than in some other countries, because the major banks in the U.S. are less willing to lend to people with marginal credit ratings than their counterparts in many other countries. Examples of these companies include Springleaf, Duvera Financial, Inc., Lendmark Financial Services, Inc., HSBC Finance, Citigroup, Wells Fargo, and Monterey Financial Services, Inc. The more generic name "consumer finance" is also used, although more properly this term applies to financing for any type of consumer. History The consumer finance industry (meaning branch-based subprime lenders) mainly came to fruition in the middle of the twentieth century. At that time, these companies were all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kiplinger's Personal Finance
''Kiplinger's Personal Finance'' ( ) is an American personal finance magazine published by Kiplinger since 1947. It claims to be the first American personal finance magazine and to deliver "sound, unbiased advice in clear, concise language". It offers advice on managing money and achieving financial security, saving, investing, planning for retirement, paying for college, and major purchases like automobiles and homes. History W.M. Kiplinger, founder of the Kiplinger family of publications, said he founded the magazine because "The times will always be changing. Much of life and work consists of looking for the changes in advance and figuring out what to do about them." Upon initial production, the magazine was known simply as ''Kiplinger Magazine'', changing its name to ''Changing Times: The Kiplinger Magazine'' in 1949 and acquiring its present name in 1991. Much like ''Forbes'' magazine, ownership of the Kiplinger's franchise was kept in the family until the sale of Kiplinger ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Finance
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. When planning personal finances, the individual would consider the suitability to his or her needs of a range of banking products ( checking, savings accounts, credit cards and consumer loans) or investment in private equity, ( companies' shares, bonds, mutual funds) and insurance ( life insurance, health insurance, disability insurance) products or participation and monitoring of and- or employer-sponsored retirement plans, social security benefits, and income tax management. History Before a specialty in personal finance was developed, various disciplines which are closely related to it, such as family economics, and consumer economics were taught in various colleges as part of home economics for over 100 years. The earliest known research in personal fin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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