How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
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Items Tagged with 'credit availability'

ARTICLES

Even Ben Bernanke can’t refinance right now

Suggests lenders may have “gone a little bit too far"
Ben Lane
Speaking at a conference of the National Investment Center for Seniors Housing and Care in Chicago, Bernanke said that the market is so tight right now that he was unable to refinance his own home loan recently.
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MBA: Mortgage credit availability drops in August

Credit tightens but some loosening in home improvement, new construction
Trey Garrison
Mortgage credit availability decreased in August according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association.
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Wells Fargo CEO: GSEs choke mortgage business

“We’re just not going to make those loans”
Brena Swanson
Wells Fargo CEO John Stumpf warned the government-sponsored enterprises that they must stop being so quick to accuse banks of faulty underwriting and then forcing them to repurchase soured loans.
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Closing a mortgage finally makes money

Breaks 6 quarters of straight losses
Brena Swanson
After mortgage banker costs skyrocketed the past 6 quarters, well out of the realm of profitability, the latest Quarterly Mortgage Bankers Performance Report from the Mortgage Bankers Association reports the landscape shifted from losing money to making money, as costs came more under control.
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How hard is it to get a mortgage?

Depending on your circumstances, it’s not as hard as you may think
Ben Lane
The Wall Street Journal identifies two distinct segments of potential borrowers — one can get credit fairly easily while the second group has a significantly more difficult time.
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Mortgage credit slightly more available in June

FHA, VA loosening LTV, credit score criteria drives index up
Trey Garrison
Mortgage credit loosened somewhat in June as a result of a slight expansion of lender criteriafor minimum credit scores and maximum loan-to-value ratios in FHA and VA loans.
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Moody’s: Lenders making more credit more easily available

Trey Garrison
Lenders are making credit more available to borrowers with less than perfect risk scores because of declining loan losses and the improving economy.
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Senior Treasury official: Recapitalizing GSEs would take 20 years

Reiterates support for plan to wind down GSEs
Ben Lane
"Even if truly rehabilitating the GSEs were possible, recapitalizing them adequately would take at least twenty years,” Treasury Under Secretary Mary Miller said. “During these 20 years, the taxpayer would remain at risk of having to bailout the GSEs during another downturn."
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Warren’s student loan bill blocked by Senate Republicans

Is the “crush” of student loan debt here to stay?
Ben Lane
The bill is just the latest in a line of legislation to fall victim to the warring parties in Congress. Republicans accused Warren and the Democrats of playing politics by putting the bill forward, knowing that it had little chance to pass.
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Obama announces plan to ease “crushing” student loan debt

What does it mean for housing?
Ben Lane
In his remarks, and in his weekly radio address, President Obama spoke of the “crushing” debt that students face and how it impedes economic growth. The President said: “If somebody plays by the rules, they shouldn’t be punished for it.”
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