Mortgage Credit Tightens, FHA Loses Share to VA
Over the past year, there has been a shift in mortgage market share among government programs. Meanwhile, credit conditions contracted from the previous month.
Mortgage Credit Eases
A standardized quantitative index that reflects credit conditions in home lending indicates that lenders loosened their purse strings last month.
Monthly Bankruptcies by Consumers Decline
Compared to a month earlier, the number of consumers who resorted to bankruptcy last month was down by 4 percent.
Easier Mortgage Credit Conditions Not a Warning
Although mortgage executives plan to relax credit requirements, the easing is not the same as was done before the nation's housing market collapsed nearly a decade ago.
Senior Mortgage Executives' Non-GSE Outlook Strong
Senior mortgage banking executives are expecting that demand for non-agency programs will intensify. At the same time, the group expects requirements on such programs to ease.
Mortgage Credit Risk Rises as Rates Increase
After declining to the lowest level of any quarter during the prior 16 years, credit risk on new single-family loans rose. Rising rates contributed to the deterioration.
Radian Relaxes LTV Ratios
Radian Guaranty Inc. has increased the allowable maximum loan-to-value ratio on some of its mortgage insurance products.
Genworth Relaxes Jumbo Credit Scores, LTVs
Relaxed jumbo requirements at Genworth Mortgage Insurance include higher loan-to-value ratios and lower credit scores. Some premiums were lowered.
Fannie Addresses Credit Report Changes
Changes next month by the credit reporting agencies aren't expected to have a significant impact on Fannie Mae's policies or requirements.
Mortgage Credit Tightens Again, Gov Programs Most
For the second month in a row, home lending institutions have made it harder to get a loan. Constriction was driven by government mortgage programs.