Purchase mortgages continued to dominate deliveries to the GSEs in the second quarter and the share of purchase mortgages with credit scores of 740 or above increased compared with the first quarter. (Includes two data tables.)
Defects related to liabilities on student loans, income/employment verification and the appraisal process topped the list of items Fannie warns lenders to keep alert for.
The share of higher-risk lending going to the GSEs expanded slightly in the first quarter, but high-credit score mortgages continued to dominate business at Fannie Mae and Freddie Mac. (Includes two data tables.)