By Rob Chrisman
Posted To: Pipeline Press
Genworth U.S. Mortgage Insurance recently released its survey that was conducted at the MBA conference in Las Vegas in October of over 300 industry executives. About 61% of executives believe lenders have underwriting standards that are too rigid, whereas 25% believe standards are not overly restrictive and 14% believe the standards are fitting. More than half (53%) believed if guarantee fees increased, it would result in fewer loans being closed and an additional 23% believe it would increase the demand for FHA loans. Almost two-thirds of respondents (64%) believe that low-income borrowers with strong credit do not have appropriate access to credit markets when purchasing a home and 38% of respondents are labeling the potential return of piggyback lending as a threat to the stability of the…(read more)
Via:: LO Role Changing; USDA Update; Mortgage Banker Profit Numbers; Appraisal News
