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Mortgage Lenders Loosen Credit

Mortgage Lenders Loosen Credit

December 11th, 2018 | Mortgage News

Mortgage credit was more readily available in November to borrowers, as lenders loosened their underwriting standards slightly, according to the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability increase 1.1% from October to a reading of 188.8, the highest level since the housing crash. Lenders have been making more loan programs available to those with lower credit scores and higher loan-to-value ratios, in response to growing demand among first-time homebuyers, the MBA said.