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Volume 2014 - Number 37

October 2, 2014

FHA Experts Doubt Whether Assessment of Underwriting Defects Can Be Simplified, Clear Guidance Remains to Be Seen

Achieving simplicity would be nearly impossible and getting clarity is something that remains to be seen in the FHA’s proposed draft for identifying underwriting defects, said compliance experts. The FHA has asked for industry feedback on a draft single-family loan quality assessment methodology, which is part of the agency’s Blueprint for Access strategy announced earlier this year to expand underserved borrowers’ access to mortgage credit. The proposed methodology is based...

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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.