Tag Archives: Lowering the standards

Lowering the standards

So far 2014 has been an interesting year for the mortgage business. We are seeing approximately 60 percent less in refinancing originations. And while purchase mortgages (those originated when someone buys a home) have been steady, they are not taking place at the same blazing hot pace that we were seeing last year. It is for these reasons that we are hearing a lot of talk that Fannie Mae, Freddie Mac, and FHA may be lowering some of their credit standards to improve mortgage originations. Some lenders have already started lowering their credit score requirement for loans. The criteria for …

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