DS NEWS
Next month marks the 10-year anniversary of the collapse of Lehman Brothers, generally viewed as the moment the Great Recession began. But a decade later, much has changed in the consumer credit marketplace, most notably and overtly in the mortgage sector, according to the Q2 2018 Industry Insights Report by TransUnion that looks at the meltdown’s effect on consumer access to credit and the relationship they have with it.
“From a credit perspective, the financial crisis of 2008 was—and hopefully will remain—one of the most trying times in Americans’ lives,” said Matt Komos, VP of Research and Consulting for TransUnion’s Financial Services business unit. “Ten years later, we have some historical perspective on the repercussions from that period, and fortunately for the overall economy, consumers are generally in a much better place today.”
According to the report, changes in consumer and lender behavior are most evident in the mortgage industry.
