bad credit: FHA vs Subprime: default and foreclosure rates
- 03/16/07 02:25 AM
The mortgage industry has been self regulating and making guidelines for SubPrime lending stricter for at least the past 6 months. Now with the pending "implosion" of the subprime market, congress is looking at other ways to further regulate the lending practices and guidelines for "risky, higher-interest home loans made to people with blemished credit records" Tougher rules eyed for high-risk home loans Delaware News Journal The article above also has some interesting data for the default rates on loans held by various types of lenders including Prime loans, SubPirme loans, FHA, and VA. SURPRISE! While the news is concentrating on the subprime market, … (11 comments)
The mortgage industry has been self regulating and making guidelines for SubPrime lending stricter for at least the past 6 months. Now with the pending "implosion" of the subprime market, congress is looking at other ways to further regulate the lending practices and guidelines for "risky, higher-interest home loans made to people with blemished credit records";)
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