Mortgage Firms Easing Standards

Seeking to counter a sharp contraction in origination volume, some mortgage lenders are easing underwriting guidelines slightly.

The changes include scaling back credit score thresholds for FHA-backed loans as well as accepting higher loan-to-value and debt-to-income ratios on loans that are going to be securitized. The trend has not necessarily made it easier to obtain financing, observers say.

Source: “Mortgage Firms Easing Standards,” American Banker, Kate Berry (June 28, 2011)

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