Mortgage Credit Conditions Best in Years
Credit conditions in home lending eased to their least restrictive level in years, though mortgage credit remains extremely tight compared to the pre-crisis era.
Bankruptcies Deteriorate in March
The number of new bankruptcy filings took a turn for the worse in March -- climbing to the highest level in 10 months.
Credit Scores for Those Lacking Traditional Credit
An estimated 15 million people could move into the world of credit thanks to a new credit scoring model that considers alternative forms of credit. But its applicability to home finance is unclear.
Big Banks Avoid Mortgage Risk, Lose Market Share
New data indicate that as large banks have cut their risk on agency mortgage lending, they have lost market share.
Demand for Government Mortgages Jumps
A recent reduction in mortgage insurance premiums on government loans has apparently had a significant impact, with home lending executives reporting an increase in demand. Also improving was the outlook for home prices, credit conditions and profit margins.
Refinance Share at Nearly 2-Year High
It's been almost two years since refinance share has been as wide as it was last month. Closing ratios on all loans deteriorated, while credit scores on government-insured refinances soared.
Deal With Credit Bureaus Impacts Dispute Resolution
A settlement reached with the three national credit repositories makes it less certain that consumer disputes will end favorably for lenders.
Jumbo Out Front of Eased Credit Conditions
Credit conditions in the home lending industry eased for the second month in a row, and jumbo mortgage programs led the loosening.
Mortgage Closing Rates, Turn Times Improve
A bigger share of loan applications were closed last month, while it took less time to complete the loan process. But credit conditions tightened except for on conventional purchase financing.
Genworth Eases M.I. Requirementse
Updates to Genworth U.S. Mortgage Insurance guidelines impact jumbo loan amounts, minimum credit scores and maximum debt-to-income ratios.