Items Tagged with 'credit availability'

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Fannie Mae: Almost no lenders plan to ease credit standards

Lender survey results suggest constrained credit box will continue
A recent report from the Mortgage Bankers Association showed that mortgage credit availability is on the decline, with the Mortgage Credit Availability Index for May showing a decrease for the third straight month. And a new report from Fannie Mae suggests there's no light at the end of the tunnel for those who hope to see credit standards relaxed any time soon.
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Is the credit box finally showing signs of opening up?

Ellie Mae report shows easing lending standards
Over the last 18 months, the federal government and the enterprises that it sponsors have taken several significant steps in an effort to open up the credit box and ensure more lending is done to more people. Now, a new report from Ellie Mae suggests that those efforts may finally be taking hold.
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FHA continues push for expanded credit access

Supplemental Performance Metric will give insight about lenders
Furthering a program that was initially announced in May of last year, the Federal Housing Administration announced the implementation of one of the key facets of its “Blueprint for Access,” which is designed to expand credit access to underserved borrowers. Click through for all the details.
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Even Ben Bernanke can’t refinance right now

Suggests lenders may have “gone a little bit too far"
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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Closing a mortgage finally makes money

Breaks 6 quarters of straight losses
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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