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CoreLogic’s economists take a look at what shaped residential mortgage financing in 2013 and what that means for 2014 in the company's January MarketPulse report.

Among the conclusions and findings that CoreLogic’s economists committed to were:

  • An analysis of credit availability shows that credit is tight for low credit-score borrowers, those who don’t want to or can’t fully document their loans, and those who would like an ARM product.
     
  • High-LTV (loan-to-value) lending remains modestly loose relative to normal, and high-DTI (debt-to-income) lending is modestly tight relative to normal, and the share of ARM loans originated is much more restricted than normal, as many subprime ARM loan products are no longer available.
     
  • Cash sales comprised 37.4% of total home sales in September 2013, down from the peak in January 2011 when cash sales made up 46.1% of total home sales.
     
  • The historical trend of auto sales correlating to home sales has seen a shift with auto sales recovering much more rapidly over the past three years due to the increase in auto-related subprime lending.

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