Mortgage Information : Credit Rating
Here you can get an idea of where you might stand with your credit rating.
A+ to A- Considered the best credit rating. FICO scores are generally 620 and up with no lates on mortgage and one 30 days late on revolving or installing credit. No bankruptcy within past 2-10 years.
B+ to B- General good credit with FICO scores from 581 - 619. Two or three 30 days late on mortgage and two to four 30 days late on revolving or installment credit. Cannot have any 60 day lates. Must be 2-4 years since bankruptcy discharge.
C+ to C- Fair credit with FICO scores from 551-580. Three to four 30 days late on mortgage are allowed. Installment or revolving credit can have four to six 30 days late or two to four 60 days late. Must have 1-2 years since bankruptcy discharge.
D+ to D- Overall poor credit history with FICO scores from 550 and lower. Two to six 30 days late on mortgage or one to two 60 days late, with isolated 90 days late. Revolving and installment lates show poor payment record with pattern of late payments. Possible current bankruptcy or foreclosure allowed with all unpaid judgments to be paid with loan proceeds. Must have stable employment.
Click Here to read more about your credit rating, scoring and repairing.
Blumenthal Sues Credit Rating Agencies (Hartford Courant) - Attorney General Richard Blumenthal sued two of the nation's most prominent credit rating agencies Wednesday, alleging they misled investors about the soundness of certain types of investments and unfairly reaped hundreds of millions of dollars in revenues.
Town's credit rating is downgraded (Lewisboro Ledger) - Just more than three months after putting Lewisboro on CreditWatch, Standard & Poor?s has announced its decision: The town?s credit rating has been downgraded from AA+ to AA, to reflect the multitude of problems that have afflicted the town budget in recent years.
Capstead Mortgage Corporation Declares a $0.50 Per Share First Quarter 2010 Common Dividend (Finanzen.net) - Capstead Mortgage Corporation (NYSE: CMO) announced today that it will pay a first quarter 2010 dividend ...
Capstead Mortgage Corporation Declares a $0.50 Per Share First Quarter 2010 Common Dividend (Business Wire via Yahoo! Finance) - DALLAS----Capstead Mortgage Corporation announced today that it will pay a first quarter 2010 dividend of $0.50 per common share on April 20, 2010 to stockholders of record as of March 31, 2010.
The grim rater (Express India) - When the subprime crisis broke in 2007, credit-rating agencies were among the first groups to take the blame. Critics argued that investors had drawn false comfort from the AAA ratings that the agencies handed out on complex packages of mortgage-related debt.
TARP Panel Finds Fault With GMAC Bailouts (New York Times) - A Congressional panel, in a report to be released Thursday, questioned the need for the Treasury Department ?s $17.2 billion bailout of GMAC as the company dealt with the collapsing mortgage market in 2008 and 2009, Sewell Chan reports in The New York Times.
Financial regulation bill to be introduced without GOP backing (McClatchy Newspapers via Yahoo! News) - WASHINGTON ? Long-awaited Senate legislation that would direct the broadest overhaul of financial regulation since the Great Depression will be introduced on Monday without any Republican support, despite weeks of bipartisan negotiations.
Fitch Rates Southern California Edison's $500MM First & Rfdg Mortgage Bonds 'A+' (Business Wire via Yahoo! Finance) - NEW YORK----Fitch Ratings has assigned an 'A+' rating to Southern California Edison's $500 million 5.5% issuance of first and refunding mortgage bonds due March 2040. The securities were priced on Monday, March 8, 2010 and are expected to settle on March 11, 2010.
Connecticut AG Sues Moody's, Standard & Poor's (Fox News) - The suit alleges the ratings on mortgage- backed securities were tainted.
Junk Bonds Pull Ahead as TXU, Freescale Soar: Credit Markets (Bloomberg) - March 11 (Bloomberg) -- High-yield, high-risk bonds are beating investment-grade debt for the first time this year as confidence in the U.S. economic recovery gains strength.
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