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Home | Tag Archives: Credit Score

Tag Archives: Credit Score

Declining Refinances Drive Increased Lending

Compared to the prior period, the nation’s average Borrower Health Score was up 2.8 percent to 82.2, rebounding from the third quarter’s 1.6 point drop, according to LendingTree. The Borrower Health Score is calculated using the weighted average of credit score, loan-to-value ratio (LTV), and overall “lendability” of loan seekers in each state throughout the quarter.

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Commentary: What’s in Store for Housing in 2014, Part 2

DSN-DS

Despite recent gains, which some of us believe are more of a mirage than an oasis, the economy still isn't creating enough good-paying full-time jobs to drive a full recovery in the housing market. At the same time, stricter lending requirements--and a lending environment likely to get more challenging before it gets easier--are the other major headwinds that could slow down housing.

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FHA Updates Underwriting Guidelines for Evaluating Borrower Risk

The Federal Housing Administration (FHA) issued new guidelines for manually underwritten loan applications that should improve a lender's ability to evaluate borrowers' risk and reduce credit requirement ""overlays"" that exceed FHA's lending standards. The agency says the move will help restore its depleted Mutual Mortgage Insurance Fund from which it pays claims without forcing lenders to over-tighten credit standards.

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As Borrowers Emerge from Underwater, Cloud of Problem HELOCs Rises

The percentage of homeowners who owe more on their mortgages than their homes are worth has declined to less than 12 percent as of the third quarter of this year, according to Lender Processing Services' (LPS) Mortgage Monitor report. While the increasing number of homeowners rising above water is good news for the market, LPS detects some tumultuous seas ahead as a cloud of problem home equity loans forms on the horizon.

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Capital Markets Veteran Outlines New Method of Home Financing

Perhaps you've known someone who raised money for a documentary or civic project by making an appeal through crowdfunding on the Internet. Now, the concept of pooled resources is being used as an investment vehicle offering equity in homeownership to investors and loan assistance to selected prospective homeowners.

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Despite Rising Prices, Investors Expected to Remain Most Active Buyers

While rising home prices have lifted many underwater homeowners to positions of positive equity, the real estate information and analytics provider DataQuick warns tight credit will still preclude many traditional buyers from the market. Instead, investors will continue to carry an outsized portion of the purchase market for the foreseeable future, according to DataQuick.

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Sales of Existing Homes Slip for Second Straight Month

Existing-home sales translate to an annual rate of 5.12 million at the October sales pace, according to the National Association of Realtors (NAR). October's sales volume was down 3.2 percent from September and marked the second consecutive month of declining transactions. NAR blames low inventory, diminished buying power from rising prices and interest rates, and a restrictive credit environment for the drop in sales.

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Is Tighter Credit for the Better?

It's no secret underwriting standards have tightened in recent years, and while many decry the heightened standards for making homeownership less accessible to some Americans, an economist with CoreLogic points out in a report released Wednesday that heightened standards are, without question, impacting delinquencies for the better, with 2013 vintage loans carrying a serious delinquency rate of just six basis points.

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Borrowers Deemed Less Healthy in Q3 as Prices and LTVs Rise

Borrowers' financial health deteriorated in the third quarter after seeing marked improvement in the previous three-month period, according to recent findings released by the online exchange LendingTree. The company's measurement of borrower health is based on average loan-to-value (LTV) ratios and average credit scores, and with rising home prices, potential borrowers faced more financial pressure.

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What Does Fannie Mae’s New LTV Threshold Accomplish?

As of November 1st, Fannie Mae is no longer purchasing loans with loan-to-value ratios above 95 percent, which means borrowers must put up a down payment of at least 5 percent, as opposed to the 3 percent previously required. Industry experts with the Urban Institute's Housing Finance Policy Center argue this move is arbitrary and likely to provide little benefit to the GSE or to taxpayers.

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