Volume 18 - Number 9
May 2, 2014
Nonbank Lenders Turn to Low-Score Borrowers
Approximately a third of independent mortgage bankers that had not previously made home loans to borrowers with credit scores under 600 began to do so during the fourth quarter of 2013 as mortgage production volumes declined, according to a Richey May & Co. quarterly trend report. Richey May, a provider of accounting and business advisory services and technology to the mortgage industry, based its report on last yearís lending activities by 29 independent mortgage banking firms ...
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