Articles Tagged with ''credit box''

[Charts] Lenders tighten credit availability in second quarter

Comes down off first-quarter peak
Mortgage risk decreased during the second quarter this year, yet data from the Housing Finance Policy Center shows even if the default risk was doubled across all mortgage lending channels, it would still remain within the pre-crisis standard. The drop was due mainly toward a shift away from government channel loans, which are much looser than other lending channels.
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Two major changes make getting a mortgage easier

Millions will suddenly qualify for home loan this month
Two changes coming this month will allow millions of buyers to enter the mortgage market as FICO scores improve. About 6% of Americans will see an improvement to their FICO scores due to the first change, and the second will allow borrowers to take on more debt in addition to their mortgage.
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Consensus from MBA Secondary: The time for GSE reform is now

FHFA acting deputy director gives an update on the secondary market
At the Mortgage Bankers Association’s Secondary conference in New York City, the FHFA gave an update on the secondary market in one of the first sessions of the day. FHFA’s acting deputy director gave the latest info on the credit box and touched on one of this year’s hottest topics – GSE reform.
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Is the mortgage credit box really loosening?

Federal Reserve survey tells all
While a recent report from the Mortgage Bankers Association showed a slight increase in mortgage credit standards, a survey from the Federal Reserve may tell another story. Most loan officers in the survey reported that credit standards remain the same, and jumbo loans are in fact the only product to see credit tightening for some lenders.
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