Credit Guideline Changes; Compliance and Communication Products; Upcoming Events

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Posted To: Pipeline Press

6,762 institutions took a residential loan application in 2016, per Richey May’s HMDA dashboard data. That is a lot of lenders!! Another big figure is the number of houses that were built with porches last year. According to a NAHB analysis of the U.S. Census Bureau’s Survey of Construction data, 65.1% of the 780,000 single-family homes started in 2016 were built with porches . I am sure many of the homes destroyed in the terrible fires in Northern California had porches, and our thoughts are with those harmed and the families of those killed. Changes to Credit and Underwriting Lenders are easing standards given the increase in interest rates and the corresponding drop in volume. “Lenders further eased home mortgage credit standards during the third quarter, continuing a trend that…(read more)

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