Author Archive

New Credit Models Could Help, Someday

The Fair Isaac Corporation recently introduced a new scoring model. The model could help to expand credit to first-time and minority groups. But there is a problem: Fannie Mae and Freddie Mac, who support the majority of the mortgage...

FHFA Director Mulls New Mortgage Costs

Mortgages rates on conventional loans could change in the coming months. The Federal agency that regulates the GSEs, the FHFA, is re-evaluating the fees that it allows Fannie Mae and Freddie Mac to charge consumers. With mortgage rates expected...

FHA Reforms Only Modest Boost to Credit Access

In response to tight mortgage credit, the FHA has announced three changes that it hopes will help to ameliorate lender overlays and broaden access to credit. Specifically, the FHA will consolidate all of its current lending rules into one...

Employment Growth

After faltering in August, headline payroll employment growth snapped back in September with the addition of 248,000 jobs.  What’s more, the August figure was revised upward by 38,000 jobs. The unemployment rate eased to 5.9% as a result, the...

Lenders Optimistic on Access to Credit

Mortgage lending standards have been tight in the wake of the Great Recession. But recent survey work of mortgage originators points to softening in the 2nd half ot 2014. In NAR’s 3rd Survey of Mortgage Originators, nearly half of...