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Volume 2014 - Number 25

June 26, 2014

Purchase-Mortgage Closing Process Improves With Shorter Timelines, More Accurate Disclosures

As the spring homebuying season has progressed, lenders have improved closing times for purchase mortgages, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Industry participants also report improvements to good faith estimates with fewer closing cost surprises for borrowers. Closing times declined on a number of different mortgage types, based on three-month moving averages. Fannie Mae and Freddie Mac mortgages with a downpayment of at least 20 percent took...

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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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