mortgage lending: Mortgage Lenders Tighten Lending Guildlines
- 12/19/06 03:34 PM
For the last several years in the booming housing market we have seen some very relaxed lending guidelines.Mortgage lenders over the past several months have began to tight lending guidelines across the board. In the purchase market place for sub prime borrowers with 580 credit scores it was easy to qualify for 100% financing. Most sub prime lenders today have raised there minimal requirement to 600 credit score or better, depending on the documentation type. Stated loans and 100% investor's loans have also seen an increase in required qualifying credit scores. There have also been mortgage lenders in the sub prime … (0 comments)
For the last several years in the booming housing market we have seen some very relaxed lending guidelines.Mortgage lenders over the past several months have began to tight lending guidelines across the board. In the purchase market place for sub prime borrowers with 580 credit scores it was easy to qualify for 100% financing. Most sub prime lenders today have raised there minimal requirement to 600 credit score or better, depending on the documentation type. Stated loans and 100% investor's loans have also seen an increase in required qualifying credit scores. There have also been mortgage lenders in the sub prime … (0 comments)
;)
;)
;)
