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Volume 7 - Number 26

December 19, 2014

Around the Industry

Proposed Data Collection for Evaluating Impact of Pre-Purchase Homeownership Counseling. The Department of Housing and Urban Development has asked the Office of Management and Budget to clear a proposal to collect information for a national study that would gauge the effectiveness of pre-purchase homeownership counseling. Rather than individual telephone interviews, the study plans to conduct focus groups and to collect data regarding the characteristics and performance of participants’ mortgage loans, even after the end of the study. The information collection will involve an estimated 6,000 borrower-participants, 1,800 co-borrowers, 64 counseling organizations and three FHA lenders. The study will be conducted in three cities at a cost of approximately $521,830. The proposal will be published in the ...

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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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