VA Mortgage Share Up as Credit Conditions Ease
Veterans home loans guaranteed by the government have grabbed a bigger share of the mortgage market over the past year. Credit scores and income ratios have eased over the same period.
Consumer Bankruptcies Down 2 Consecutive Months
The number of consumers who resorted to bankruptcy fell for the second month in a row. But filings remained elevated versus a year ago.
Agency ARM Updates Behind Looser Mortgage Credit
Updates to agency parameters for adjustable-rate mortgages were behind an improvement in home-lending credit conditions. It was the second month in a row of easing.
Credit Score Senate Bill Introduced
Legislation that would force the government-sponsored housing enterprises to allow multiple credit-scoring models has been introduced in the Senate.
Mortgage Demand Up as Standards Little Changed
Over the past three months, customer demand for agency mortgages was stronger, according to a survey of bank executives. There was little change in credit standards.
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.