Items Tagged with 'mortgage credit'

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Urban Institute: Where have all the borrowers gone?

A new report on the shrinking borrower pool
A recent report from the Mortgage Bankers Association showed that mortgage credit availability is increasing, meaning it’s getting easier to get a mortgage and has been since 2011. Or so it would seem. A new report from the Urban Institute suggests that it’s actually more difficult to get a mortgage now than it was before the crisis.
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MBA: Mortgage credit once again loosens in December

Marks fourth consecutive month of loosening
The recent upward trend in mortgage credit availability didn’t let up in December, with credit now loosening for fourth months straight. Lynn Fisher, MBA’s vice president of research and economics, explains the driving forces behind the trend.
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Here’s the U.S. Treasury’s plan to preserve access to mortgage credit

In good times and bad
The financial crisis caused a major shift in the housing market as the credit box pendulum swung too far in one direction. The impact of this left many would-be homeowners with no financial options. The Treasury Department’s latest blog proposes three ways the government can make sure the housing market functions in good times and bad.
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[Chart] New from the CFPB: Here are the latest credit trends in mortgages

5 charts give snapshot of the industry
The Consumer Financial Protection Bureau created its first-ever Consumer Credit Trend report, providing a current snapshot of the industry to compare to past years. What does it show? For starters, the mortgage market surged in October, but beyond the snapshot, it’s the charts that are most informative.
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Here's "clear evidence" the credit box is way too tight

Why five years of squeaky clean loans isn’t a good thing
Borrowers who took out mortgages in the past five years are better at paying their mortgages than any other group of mortgage borrowers in history. But this squeaky-clean performance isn’t a good thing, according to the Urban Institute. In a new blog post, the think tank posits that the interesting data shows the severity of how tight the credit box is.
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Expanding mortgage credit availability isn't hard, if you do it right

Carrington Mortgage Holdings' Dan Magder on how to open the credit box
At meeting after meeting with mortgage industry executives, government officials ask all of us to expand mortgage availability to underserved borrowers. But those officials caution industry leaders in the very next breath, don’t loosen underwriting standards and return to the go-go days of the credit crisis. Hearing these seemingly contradictory requests, the lending community is left scratching its collective head. But there are ways to bridge the divide.
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Record low interest rates? Ha! It's still getting harder to get a mortgage

MBA report shows mortgage credit availability decreases again in June
Mortgage interest rates are nearing all-time record lows and mortgage applications are up, all thanks to the Brexit, but it looks like those figures may not lead to a huge jump in actual mortgages being taken out, because it's still getting harder to get a mortgage. Here's the sobering news.
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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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