fha mortgage loans, local mortgage broker, midwest family lending

(515) 252-7107

APPLY NOW!

Mortgage Industry News

« Return to Mortgage Industry News

Current Credit Standards Tougher Than They Need to Be

Friday, January 2, 2015

What is an acceptable rate of mortgage delinquency?  A CoreLogic economist is using current delinquency rates to argue that delinquencies will always be with us and that today's underwriting standards are tougher than they need be.  

Molly Boesel, a senior economist with the company says the serious delinquency rate (SDQ) in February 2010, near the height of the housing crisis, was 8.6 percent.  Recent figures from CoreLogic show 1.6 million SDQ mortgages - those 90 days or more past due or in foreclosure, a rate of 4.2 percent. t still supports sustainable homeownership.

Read Full Article

Testimonial

"Smith/Brandt Home Mortgage Consultants are a great resource for anyone ready to buy a new home! They were there to answer any and all questions before and after closing. They made the home loan process smooth, painless, and easy to understand which was greatly appreciated being a first time home buyer! Thanks again to the both of you for all of your help and guidance!"
Ashley