Rates Hurt Spring Purchase Financing Outlook
Rising interest rates on residential loans have senior mortgage banking executives less optimistic about spring home purchase financing than a year ago.
3rd Credit Bureau Settlement in 3 Months
Another settlement reached with a credit bureau marks the third such action in as many months and the third of the big three credit repositories to settle.
Approvals Automated for Nontraditional Credit
Loan applicants who don't have a traditional credit scores will soon be able to obtain automated approvals using nontraditional credit.
Q4 Mortgage Credit Risk Low
It's been 16 years since the quality of residential loans originated has been as low as it was in the fourth-quarter 2016. But higher risk is likely ahead.
Gov Share Up as Refinance Share Down, Credit Eases
As refinances took up a smaller share of monthly residential loan originations, government share widened, and loan approvals got easier.
Gov Programs Lead Easing in Mortgage Credit
For six consecutive months now, home lenders have made it easier to qualify for a mortgage. Government lending requirements led the latest loosening.
Consumer Bankruptcies Up But Off from Year Prior
Although the volume of consumer bankruptcy filings turned higher on a month-over-month basis, a year-over-year reduction was recorded.
Risk of Default Down on Mortgages
A quarter-over-quarter and year-over-year decline was recorded for the level of risk on new mortgage originations.
MGIC Relaxes Program Requirements
MGIC has relaxed some of its underwriting guidelines. Among the changes are higher loan-to-value ratios, increased loan amounts and reduced credit scores.
Home Lenders Take More Risk, Gov Share Shaken Up
There was a significant change in the share of government home-loan originations last month. Meanwhile, lenders took more risk with credit scores and debt-to-income ratios.