Powered by Google

Search form

Credit Policy

Tight credit is delaying the recovery of the housing market and the economy as a whole. The importance of reasonable underwriting policies is necessary to increase the availability of credit to qualified borrowers who are good credit risks.

March 13, 2015
On Monday, March 9, 2015, the 3 largest credit-reporting firms – Equifax, Experian, and TransUnion – reached an agreement with New York state to overhaul their reporting and error resolution practices. Many of these changes will be implemented on a national basis roughly over the next 3 years.
Topics: Credit Policy
January 20, 2015
NAR submitted comments to the Federal Housing Finance Agency on proposed membership rule changes to the Federal Home Loan Bank (FHLB) system to make sure that members maintain an ongoing commitment to homeownership.
Topics: Credit Policy
December 12, 2014
On December 9, 2014, the U.S. Senate Banking Subcommittee on Housing, Transportation, and Community Development held a hearing entitled, “Inequality, Opportunity, and the Housing Market.”
December 12, 2014
On December 8, 2014, Fannie Mae and Freddie Mac released details on new mortgage product offerings that will provide access to qualified borrowers able to put down at least 3%.
September 12, 2014
On September 8, 2014, NAR submitted comments to FHFA on its proposed draft Private Mortgage Insurer Eligibility Requirements (PMIERs) for companies that insure mortgage loans owned or guaranteed by Fannie Mae and Freddie Mac. The proposed requirements are important to NAR members as private mortgage insurance is often required for borrowers with down payments less than 20 percent. In its letter, NAR focused on three points:

Pages