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Tag Archives: Borrower Profile

Borrower Health Improves in Q4; D.C. Ranks Highest

Compared to the prior period, the nation’s average Borrower Health Score was up 2.8 percent to 82.2, according to LendingTree, rebounding from the third quarter’s 1.6 point drop. The Borrower Health Score is calculated using the weighted average of credit score, loan-to-value ratio (LTV), and overall “lendability” of loan seekers in each state throughout the quarter.

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Study: Housing Hardships Greater for Black, Hispanic Communities

Despite efforts to bring greater equality to the housing market, research conducted by Zillow suggests black and Hispanic homebuyers still face greater difficulties related to homeownership than whites. The study found blacks and Hispanics were more likely to apply for a mortgage insured by the Federal Housing Administration (FHA) than a conventional loan, and out of those that did go for a conventional mortgage, black and Hispanic applicants were far more likely to be denied.

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Survey: Singles, First-Time Buyers Still Struggling with Financing

Findings released in the National Association of Realtors├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó (NAR) annual Profile of Home Buyers and Sellers survey demonstrate what industry experts have been saying since the housing market started to pick up: Access to credit is going to have to loosen before mortgage-dependent homebuyers can make a more meaningful contribution to the recovery. According to NAR chief economist Lawrence Yun, conditions are especially restrictive for single and first-time buyers.

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Higher LTV Ratios Pull Down Borrower Health in Q3

Recent findings released by online lender exchange LendingTree reveal that the financial health of prospective borrowers dipped in this year's third quarter after seeing a sizable improvement in the second. The company attributed the slight decline in borrower health to rising home prices, which boosted loan-to-value ratios across the country to a national average of 89.8 percent and put more financial pressure on potential borrowers. National health also experienced a slight drag from a dip in the average credit score of borrowers.

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Loan Officers Report Rising Demand for Non-Traditional Loans

According to the Federal Reserve's latest quarterly Senior Loan Officers Opinion Survey, a net 3.1 percent of lenders responding said demand for "non-traditional" residential loans increased from the survey released three months ago and a net 25 percent of respondents said demand for loans from sub-prime borrowers was higher than it was in May. At the same time, a net 6.3 percent of lenders said they had eased lending terms and standards for non-traditional mortgage loans.

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