For decades, Fannie Mae and Freddie Mac have issued separate mortgage-backed securities. But the price difference between the two has cost taxpayers billions.
The median FICO score for borrowers approved for agency-originated loans has declined from 742 in June 2016 to 725 in April 2017.
Community banks don’t have the resources of larger, national banks, so navigating the myriad of available mortgage lending programs can be a daunting task.
A close look at the data makes it clear that homeownership doesn’t protect low-income homeowners from the same cost burdens as low-income renters.
Obtaining an appraisal has become a longer process, creating challenges for many potential American homebuyers.
The presence of risky products, not increased lending to riskier borrowers, was a bigger contributor to the 2008 housing crisis.
The Fed began buying mortgage-backed securities in 2009 to support a then-fragile housing market, and is now the single largest holder.
Credit scores are critical in determining whether a lender will consider a borrower’s loan application, but current scoring methods leave many behind.
Credit is tight largely because lenders are imposing even more stringent standards than those required by the entities that guarantee or insure these loans.