Items Tagged with 'mortgage credit'

ARTICLES

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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4 ways the Qualified Mortgage rule doesn’t reduce mortgage lending

Urban Institute: Rule appears small to nonexistent
When the Qualified Mortgage rule came out in January 2014, many worried that the rule would contribute to a reduction in mortgage credit availability. But that's not the case. In an updated analysis, Urban Institute housing and mortgage experts say that the rule does little to impact the availability of mortgage credit.
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MBA: Mortgage credit continues to loosen

Thanks to new conforming loan programs
Once again, mortgage credit availability trended higher, increasing in October thanks to new conforming loan programs, many of which were affordable housing programs that have lower down payment requirements.
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