Are record-low interest rates masking high-cost mortgage lending?

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits
W S
Lending / The Ticker

Lending to the self-employed is getting harder

/ Print / Reprints /
| Share More
/ Text Size+

Sally Herigstad, a freelance writer in Enumclaw, Wash., encountered problems last year when applying for a mortgage. Before offering to place a 26-percent down payment on a house, Herigstad says she and her husband had heard that getting a mortgage would be harder than it once was, but they had no clue just how difficult the process would be.

"Some of the hurdles were uneven self-employment income, a [one-time] start-up expense [from] two years earlier that the lender categorized as ongoing, and the requirement that we qualify for payments on both our old house and our new house, despite the fact that we planned to rent out the old house," she says.

Source: U.S. News
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus