"Debt-to-Income" Now Biggest Player in Mortgage Denials

Home / Blog / "Debt-to-Income" Now Biggest Player in Mortgage Denials

Posted To: MND NewsWire

Mortgage denial rates ebb and flow with the economy, with lenders appetite for risk, and sometimes with the pressure lenders feel to make loans. Denial rates in 2017 continued to diminish as they have done since the economy began to improve in 2013 and were the lowest in any year since at least 2004. Using data collected from lenders under the Home Mortgage Disclosure Act (HMDA), CoreLogic estimates only about one in ten mortgage applications were denied last year. Poor credit used to be the primary reason that lenders turned borrowers away, but Yanling Mayer, writing in the CoreLogic Insights blog, says that, in the current credit cycle that has changed. The tight inventory of starter and lower-priced homes has pushed the prices of those homes up faster, impacting affordability more on that...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagen...

9106633c 9dc6 412b 82ff 2d6c1878e097 4e1df008 6bee 4de6 9a95 910129ddb896 1f4d95ce ed8c 4909 b58a 8ed4d1daf152 01f19b0c 4936 49d1 b220 29b66cc9cced 32c13500 32ed 4485 98a6 e3f5a05abac6 295c1414 c628 4456 930f 0a7d0ef60baf 9d0604eb 66fb 4e7e 9702 fb3ecbc96ef5 2c9856bf 2b8d 4621 84c3 8d641fcbed13 2f451358 dfae 4d3d ba10 fb5878532e0d c29eb289 8477 4a57 a903 e68b225eba76 d96232d8 5d48 4a87 a41e fd86b8bb67f8 b6a4c7b3 6b9b 41ae b046 7fda5c0a0c5b f37b44ce 25b6 4a7a 8582 9ea659c2567d e933dd4e 6d8f 4d48 81d0 2862ee8816e1 4ae352e5 6ffe 48bf 9b3a 9cc95af804a9 6584977c 18b3 4573 bf1c 3eb5f9e29463 27772256 30b4 44fe ba92 f54615b404e2 80b7c9d8 5e26 4e54 a77b 396a05842672 8f23da77 0785 40da abee 2b2d6a3ed2bb c2b54f8d 65bf 49af a7fd cb15bf46c0cb 455c56fa 2575 45da b027 788c6d885562 7658455d f995 436d 9e0b a37c38876ffe a243c913 aa33 497a b128 cd6c3f3129d1