Volume 2014 - Number 12
March 27, 2014
Downloads Available: Agency Mortgage FICO Profile - 2013
Carrington Tests Low-FICO Market, But Skeptics Suggest It’s More Marketing Than Substance
Carrington Mortgage made a big splash this week, unveiling a plan to offer to fund FHA loans for borrowers with credit scores as low as 550, but already some skeptics are openly questioning just how many such loans Carrington – or any company – can produce. Carrington Executive Vice President Ray Brousseau declined to estimate production. The company’s minimum FICO score for FHA loans had been 580. The expanded FHA program will be...[Includes one data chart]
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