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Have credit restrictions gotten too tight?

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Mortgage Professional America | 04 Sep 2014, 07:33 AM Agree 0
If credit restrictions are too tight and those who can afford the risk aren't allowed to take it, the consequences for the economy can be devastating
  • | | 04 Sep 2014, 11:45 AM Agree 0
    Yes credit is too tight.
  • | | 04 Sep 2014, 11:52 PM Agree 0
    Ok, lets see. . . Weighted Ave FICO on FNMA MBS = 740 , Rates up over the last 18 months, FHA mortgage limits rolled back from $343K to $271K, and oh yes, implementation of Dodd Frank ATR/QM (can we say "future lawsuits pending") in Jan 2014. Oh, why don't we also kill FNMA/FHLMC, (and why not FHA/VA while we are at it) to find out if private capital will really show up and offer affordable mortgages, on reasonable terms, to average individuals? And they scratch their heads in Washington DC and wonder why housing is struggling again!!

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