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December 8, 2014

Short Takes: CFPB Examining Pre-Approval Letters Now? / CFPB ‘Consumer Narratives’ Still an Issue / Caliber Loosens Credit Even More / The Lawsky Question / FHA Weighs in on Loan Limits

By Thomas Ressler and Brandon Ivey and Paul Muolo

Industry advisor Joe Garrett said in a client note he knows of a lender that had its pre-approval letter scrutinized by the CFPB.

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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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