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  • Ocwen3.19+0.04 +1.27%
  • Zillow39.10-0.82 -2.05%
  • Trulia47+0 +0%
  • NationStar17.83+0.13 +0.73%
  • CoreLogic45.84+0.19 +0.42%
  • RE/MAX61.95+0.40 +0.65%
  • Fannie Mae2.80+0.00 +0.00%
  • Freddie Mac2.68+0.04 +1.32%
  • Wells Fargo54.25+0.19 +0.35%
  • CitiMortgage71.40-0.36 -0.50%
  • Bank of America25.02-0.14 -0.56%
  • Fidelity National Financial47.66+0.27 +0.57%
  • First American49.19+0.35 +0.72%
  • Black Knight Financial Services43.70+0.25 +0.58%
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  • USDJPY=X112.3040+0.3460 +0.3090%
Home | Tag Archives: FICO

Tag Archives: FICO

Gen X Anxious and Fearful for Financial Future

Generation X, aged 28-52, have a worse financial outlook than any other group. Having lost nearly half their wealth after the housing market collapse, over a third of Gen-Xers believe we are headed for an inevitable financial crisis in the near future. “For this reason, many are paying down their mortgages to reduce payments and guard against possible foreclosure in a downturn,” said one industry expert.

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Ellie Mae: Refinances Decline Slightly in May

Ellie Mae released its Origination Insight Report for May, analyzing data from over 3.5 million loan applications that ran through Ellie Mae’s Encompass mortgage management solution. The company found that refinances declined slightly for the month to 33 percent of all loans, down from 37 percent in the previous month.

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Have Lower Lending Standards Pushed Credit Scores Down?

After years of too-loose and then too-tight credit access, average FICO scores are now slowly floating down, and the market looks a little more open for low-score borrowers. But do these steady declines really indicate a loosening in standards among lenders? “Afraid not,” say researchers at the Urban Institute’s (UI) Housing Finance Policy Center.

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Lenders Continue to Lower Credit Requirement Thresholds

seal-on-money

A new report from Ellie Mae shows credit standards ended 2013 at their lowest level all year. The company found that by December, criteria for first-lien mortgages had relaxed considerably, with the average FICO score at 727, loan-to-value ratios averaging 82 percent, and debt-to-income ratios at a yearly high of 39 percent. The company also found that loans originated in December took an average of 43 days to close, down from 55 days a year earlier.

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Commentary: What’s in Store for Housing in 2014, Part 2

DSN-DS

Despite recent gains, which some of us believe are more of a mirage than an oasis, the economy still isn't creating enough good-paying full-time jobs to drive a full recovery in the housing market. At the same time, stricter lending requirements--and a lending environment likely to get more challenging before it gets easier--are the other major headwinds that could slow down housing.

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