Credit Scores

Why FICO Scores are Up

After a year since COVID struck the U.S., FICO credit scores are up—a lot. For the past decade, the average FICO score has grown at around one point per year. In 2020, despite record unemployment, the average FICO score in the U.S. climbed seven points—from 703 in 2019 to 710…
Megan Horn
September 8, 2021

What the 2020 HMDA Data Says About Credit Union Lending

The Home Mortgage Disclosure Act (HMDA) requires financial institutions to maintain, report, and publicly disclose loan-level information about mortgages. The reported data: Helps show whether lenders are serving the needs of their communities Is used to inform government decisions and policies Sheds light on potentially discriminatory lending patterns HMDA data…
Megan Horn
August 6, 2021

Three Takeaways from the Q1 NCUA Data

The National Credit Union Administration (NCUA) released its Q1 2021 data. Here are some key performance indicators: Total loans outstanding increased $49 billion, or 4.4%, over the year ending in the first quarter of 2021 to $1.17 trillion. Total assets rose by $311 billion, or 19%, over the year to…
Megan Horn
July 13, 2021

How to Assess and Quantify Collateral Risk in an Uncertain Economy

The COVID-19 pandemic brought with it the most uncertain credit risk environment we’ve seen in at least a decade. Shuttered economies and historically high unemployment brought concern about borrower ability to repay, and assistance provided by governments and financial institutions clouded long-term solvency even further. In an uncertain credit environment,…
Dinny Lechman
May 7, 2021

3 Signs Credit Card Balances Are Likely to Grow

Credit cards saw a record setting reduction in balances during the pandemic, with total outstanding credit card debt dropping over 10% from Q4 2019 to Q4 2020. This trend is counter intuitive to what you may have expected during an economic recession where unemployment hit all-time highs. But this recession…
Dinny Lechman
April 9, 2021

Predicting NCUA Supervisory Priorities for 2021

The NCUA will soon be releasing their Supervisory Priorities for 2021. Based on past priorities, evolving NCUA guidance, and the current economic environment here is what we think will be most important to examiners in 2021. CARES Act In response to the COVID-19 pandemic, the NCUA released an update to…
Dinny Lechman
January 8, 2021

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