Smart Borrower Blog

Archive for the ‘Bad Credit Home Loans’ Category

Mortgage Originations Tumble to 5-Year Lows

May 15th, 2019 @ 11:58 AM by Amber Nelson

Even though mortgage interest rates have remained near record lows, total new mortgage originations fell to a 5-year low during the first quarter of 2019, according to data from the Federal Reserve Bank of New York. Total originations dropped $60 billion from the previous quarter to $344 billion, the lowest level since the third quarter […]

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Market Changes Could Mean Looser Mortgage Standards

Jul 5th, 2017 @ 9:22 PM by Amber Nelson

Those who have been locked out of the housing market may soon catch a break. With two significant changes taking place in the U.S. mortgage realm this month, millions of would-be borrowers may be able to qualify for financing. The first change involves credit scores. The three major credit reporting agencies, Equifax, Experian, and TransUnion […]

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Banks Losing Ground to Non-Bank Lenders in the Mortgage Market

Nov 2nd, 2016 @ 8:09 PM by Amber Nelson

While traditional banks have long been the major players in making mortgage loans to Americans, during the third quarter non-bank lenders originated more than half of all mortgage loans for the first time in 30 years, according to Inside Mortgage Finance. During the third quarter of 2016, among the top 50 mortgage lenders, non-banks – […]

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Fed Survey: Stronger Loan Demand Hints at Increased GDP

Aug 5th, 2015 @ 8:09 PM by Amber Nelson

In its latest survey, the Federal Reserve found that banks are seeing an increase in demand for commercial and consumer loan, a sign that U.S. economic growth may pick up as we move toward 2016. The Fed’s quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices is designed to uncover trends in demand and […]

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Mortgage Originations Jump 75 Percent from Last Year

Jul 1st, 2015 @ 8:16 PM by Amber Nelson

Low interest rates and increased inventory helped the number of U.S. mortgage origination balances skyrocket almost 75 percent in the first quarter of this year, according to the Equifax National Consumer Credit Trends Report. Mortgages originated in the 2015 first quarter totaled $466 billion, up 74.4 percent from the first quarter of 2014. “The drop in […]

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6.8 Million Former Homeowners Unlikely to Buy Again

Apr 22nd, 2015 @ 2:56 PM by Amber Nelson

Only a quarter of those who lost their homes in the wake of the mortgage meltdown are likely to become homeowners again, according to recent data from the National Association of Realtors. Since the housing bubble burst in 2006, there have been almost 9.3 million homeowners who experienced a foreclosure, short sale or deed-in-lieu of […]

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Mortgage Delinquencies Fall for 9th Straight Quarter

May 28th, 2014 @ 7:23 PM by Amber Nelson

The percentage of U.S. homeowners behind on their mortgages fell in the first quarter of this year, creating a nine quarter streak of declining delinquency rates, a sign that the mortgage market has shaped up since the housing bubble burst. The national mortgage delinquency rate – the percentage of borrowers who are 60 days or […]

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Mortgage Financing Fails to Keep Up With Rising Prices

May 22nd, 2013 @ 9:03 PM by Amber Nelson

Prices for U.S. homes continue their dramatic incline, giving the housing market a boost and contributing to the growth of the overall economy. But is the trend sustainable? Some economists suggest that ultra-tight mortgage standards may prevent the housing recovery from staying its course. The National Association of Realtors reported this week that existing U.S. […]

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Foreclosures Almost Back To Pre-Recession Levels

Apr 24th, 2013 @ 9:07 PM by Amber Nelson

Completed foreclosures fell to their lowest level since the start of the Great Recession, according to foreclosure data firm RealtyTrac, a welcome sign of housing recovery. Roughly 44,0000 U.S. homes were repossessed in March, a major drop from the peak in September 2010 when lenders seized 100,000 homes. And total foreclosure filings – including default […]

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Government May Expand Mortgage Modification Program

Dec 26th, 2012 @ 10:36 PM by Amber Nelson

More than a fifth of the nation’s homeowners are still underwater on their mortgages. This poses a threat to the economy in two ways: first, borrowers who owe significantly more on their loans than their homes are worth are often likely to ‘strategically default’ or purposely fall into foreclosure. This causes a rise in distressed […]

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