Mortgage Archive

REALTORS® Continue to Report Difficulty in Obtaining Mortgages

Credit continued to flow to those with high credit scores, based on information provided by REALTORS® in the October 2014 REALTORS® Confidence Index Survey:  http://www.realtor.org/reports/realtors-confidence-index.   Almost half of  REALTORS® providing transaction credit score information reported FICO credit scores of ...

Lenders Tighten Modestly in the 3rd Quarter

In the 3rd quarter as in earlier surveys, respondents to NAR’s Survey of Mortgage Originators were asked about impacts of the Qualified Mortgage rule on the mortgage lending market.  However, this quarter the survey expanded to measure lender expectations...

QM Still a Concern

Some aspects of the qualified mortgage rule continue to weigh on the mortgage market.  According to NAR’s Survey of Mortgage Originators, despite overtures from the CFPB and modestly fewer issues, lenders tightened some restrictions in the 3rd quarter. The...

Fannie and Freddie to Back Three Percent-Down Loans, Safely

Recently the FHFA announced that it would begin to allow the GSEs to finance loans with as little as 3% down payments.  This news was received with mixed reviews.  Some view it as an improvement in access for entry-level...

Mortgage Performance of Veteran Loans

Mortgages backed by the Veterans Affairs have generally performed better than other mortgage products, even though VA loans require no down payment. In the most recent quarter, the percentage of mortgages going into foreclosure for VA loans was 0.3...