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Volume 2014 - Number 21

October 10, 2014

News Briefs

Social Finance, a nonbank that has focused on refinancing student loans, launched a jumbo mortgage lending program this week. The lender is offering loans with downpayments as low as 10 percent and balances as high as $3.0 million with no requirement for private mortgage insurance. SoFi is offering 30-year fixed-rate mortgages and adjustable-rate mortgages, including a 5/5/20 ARM with a 10-year interest-only period. SoFi said it is looking to originate ... [Includes one brief]

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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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