Continued Deterioration in Origination Quality
As home lenders and investors have recently been a little more relaxed about credit qualifications compared to just after the crisis, mortgage quality has weakened. Still, quality is better than before the crisis.

Mortgage Credit Conditions Tighten
Average credit scores increased on last month's mortgage production, while averaged debt-to-income ratios declined. The tighter credit conditions came as refinances continued to make up a diminishing share of mortgage production.

Government Loans Drive Mortgage Credit Tightening
Changes to government mortgage programs last month drove down overall mortgage credit availability. Jumbo credit conditions, however, were looser.

Consumer Bankruptcies Drop from Month, Yr Earlier
A sharp drop in monthly consumer bankruptcy filings was complimented by a year-over-year improvement. States with the most filings per capita were concentrated in the South.

Free Credit Freeze From All 3 Bureaus
One silver lining from the Equifax data breach has been legislation passed by Congress that requires the credit bureaus to provide credit freeze services free to all consumers.

Refinance Share of Mortgage Originations Widens
A bigger share of borrowers who closed on their home loans last month were refinancing an existing mortgage than the preceding month. Closing rates climbed to a 12-month high.

Jumbo Drives Down Mortgage Credit Availability
Credit conditions in the home financing market were tighter last month. Behind the contraction was a drop in the number of available jumbo mortgage programs. Partially offsetting jumbo deterioration was an increase in programs with low down payments.

4-Month High for Consumer Bankruptcies
Consumer bankruptcies worsened last month, with filings climbing to the highest level in four months. If the trade group for the bankruptcy industry has its way, more consumers will have access to bankruptcy.

Financial Counselors Lift Distressed Mortgage Value
Investors who acquire distressed home loans at a significant discount could raise the value of their investments with financial counselors who help borrowers increase their cash flow.

Refi Share Stays at Record Low, Closing Rate Up
As refinances continue to make up the smallest monthly share of mortgage originations during recent years, the closing rate has strengthened, and conventional share has widened.