Conventional Share Widens w/Refis, Though Off YoY
As refinance share widened last month, so did conventional share -- though it has diminished over the past year. Turnaround and closing rates both deteriorated.
Mortgage Credit Conditions Best in Nearly Decade
Home lenders have made it easier to qualify for a mortgage for four consecutive months. The latest gain was enough to put credit conditions at their loosest level in nearly a decade.
Consumer Bankruptcy Filings Fall to 7-Month Low
New bankruptcy filings by consumers were down from a month earlier to the lowest level in seven months. Filings also retreated from a year earlier.
Modest Rise in Mortgage Credit Risk
Over the past year, risk on new mortgage originations moved modestly higher. Much of the increase was tied to a rising share of investor and condominium loans.
Home Lenders Loosen Standards as Demand Wanes
As demand has diminished for refinanced single-family loans, credit standards on mortgages -- especially government-sponsored enterprise loans -- have loosened.
Acquisitions Might Be Factor in Equifax Data Hack
Aggressive growth through a string of acquisitions might have been a big factor in the data breach disclosed last month by Equifax Corp.
Lenders Make Riskier Mortgages as Closing Rate Up
Compared to a year ago, home lenders took more risk on mortgages closed last month as government share has widened. Closing ratios and turnaround improved from a month earlier.
Mortgage Bankers Relax Credit 3rd Month in Row
For the third month in a row, home lenders have been more aggressive about which loan applicants they will approve. Conforming credit eased the most.
How Borrowers Can Mitigate Equifax Breach
Your current and prospective borrowers can take steps to mitigate the massive breach at Equifax Inc. of personal data on more than 140 million Americans.
Consumer Bankruptcies Jump, Though Yr-Over-Yr Dip
A sharp increase over the preceding month was recorded for U.S. consumers who resorted to the bankruptcy courts. But filings eased somewhat from a year ago.