Items Tagged with 'home purchases'

ARTICLES

  • The credit crisis remains real

    Fear of mortgage rejection drives away almost half of potential buyers
    Increasingly tight credit standards and fear of rejection are keeping nearly half of the potential buyers out of the market because they’re afraid they won’t be able to qualify for a mortgage. The game is over before it’s even begun.
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  • Where's the key to unlocking the door to homeownership?

    Access to credit remains unacceptably tight
    A key question is whether a rigid reliance on credit scores, at the expense of meaningful underwriting of the borrower, is worth the price of diminished access to mortgage credit. Does this reliance make sense when the most risky and objectionable products (such as “no doc” loans and “interest-only ARMs”) have been effectively banned from the marketplace?
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  • QRM Requirements Could Stifle Recovery

    According to data from CoreLogic, about 39% of borrowers who purchased a home in 2010 were completed with a down payment less than the 20% down payment that would be required by the proposed Qualified Residential Mortgage (QRM) risk retention rule.   Reported by HousingWire, the data suggests that the 20% down payment requirement will lead to more sluggish sales in the short-term. The proposed rule would require lenders to maintain 5% of the credit risk on loan they produce that do not meet the QRM standard.  That would suggest that home loans that do not qualify as a
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