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Lending Standards

Lending Standards
  • Mortgages guaranteed by the Department of Veterans Affairs rose 50 percent to almost 540,000 loans in fiscal year 2012.

  • The government has filed a lawsuit against Wells Fargo, alleging the nation's largest lender has participated in "reckless" lending of government-backed loans, but Wells Fargo insists it's done nothing wrong.

  • Mortgage rules being drafted by federal banking regulators came under the spotlight last night in the first election debate between President Barack Obama and his Republican challenger, former Massachusetts Gov. Mitt Romney.

  • In the past 25 years, the mobility rate in America has steadily declined. Last year only 12 percent of the population moved, a troubling economic indicator.

  • Distressed homes sometimes need a lot of work, and so more lenders are offering loan options to help home owners or investors rehab the properties.

  • At a press conference he held last week to announce the MBS purchase plan, Federal Reserve Chairman Ben Bernanke said tight underwriting standards, which are keeping otherwise creditworthy households from getting financing, are in fact easing.

  • Survey findings and an analysis of historic credit scores and loan performance show that a return to safe and sound lending standards would boost home sales and add jobs.

  • Some positive news from FHA today on its condo financing rules, with more changes expected to come in the near future.

  • Now that the agency has clarified when lenders have to buy back bad loans, will banks revisit their strict GSE lending standards?

  • Many home owners sold themselves short when they refinanced by not shopping around -- and they may have missed out on even more savings.

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