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March 24, 2014

Carrington Restructures Wholesale Effort, Rolls Out a 550 FICO (FHA) Loan

By Paul Muolo

According to exclusive figures compiled by Inside Mortgage Finance, almost 85 different lenders made FHA mortgages in 2013 that had FICOs of less than 550.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

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