When g-fees increase, lenders unable to pass the added cost through to all borrowers tend to ration credit by rejecting more loans and charging higher rates, according to new research.

Deliveries of high-risk purchase loans to the GSEs saw minor increases in the third quarter. But lenders expanded the credit for such loans in the refi sector. (Includes two data tables.)

Small investors, who own five or fewer properties, are increasingly turning to debt service coverage ratio financing to grow their portfolios.