mortgage applications: Mortgage Lending Standards Still Tight And Housing Remains Weak, Says Fed Report - 03/03/11 03:22 PM
While hints of inflation are emerging and the job market improved in January and February, mortgage lending standards remain tight and the housing industry is still anemic, according to the Federal Reserve Beige Book report released yesterday.
“Recent activity in residential real estate varied, but overall sales and construction remained at low levels across all districts,” the survey stated.
Lending requirements remained tight in all districts. Atlanta actually reported tighter home loan standards. Although an improving job market is definitely good for the economy, stringent mortgage lending requirements are not good news for homeowners or home buyers hoping to take advantage … (0 comments)

mortgage applications: New FICO 8 Credit Score Emphasizes Mortgages - 10/29/10 02:24 PM
The newest credit scoring product, the FICO 8 Mortgage Score, is supposed to do a better job at predicting if homeowners will keep paying their mortgages.
The latest credit score product, now available from all three major credit reporting agencies, offers mortgage lenders “more precise risk assessment tailored for the real estate market,” according to Fair Isaac Corp., the Minneapolis-based company that devised the FICO score.
The widely used credit score is an important factor for homeowners seeking to refinance their current mortgage or a mortgage to a purchase home. While a 700 score is considered good, Borrowers typically need a … (3 comments)

 
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