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September 2017 Archives

Housing Credit Index: Second Quarter 2017

Loans Originated in the Second Quarter Exhibit Higher Credit Risk Than a Year Earlier

Archana Pradhan    |    Mortgage Performance

  • The CoreLogic Housing Credit Index (HCI) shows higher credit risk in Q2 2017 compared with Q2 2016, but it remained within the range exhibited during the early 2000s.
  • The average credit score for all borrowers – purchase and refinance combined – increased year over year from 738 in Q2 2016 to 741 in Q2 2017.
  • The average loan-to-value ratio (LTV) and...

Home Equity Lines of Credit

End-of-Draw Performance Not as Bad as Feared

Matt Cannon    |    Mortgage Performance


One effect of the rapid increase in home prices from 2000 to 2006 was the increased use of home equity lines of credit (HELOCs) as a method for homeowners to extract equity from their properties. HELOCs consist of a “draw period” and a “post-draw period.”  At any time during the draw period, borrowers can borrow up to a specified credit limit, or pay part or all of...

Homebuyers’ Mortgage Payments Rising Faster Than Prices

“Typical Mortgage Payment” Up Nearly 14 Percent Year Over Year

Andrew LePage    |    Housing Trends


Low mortgage interest rates helped soften the blow of rising prices for homebuyers over the past six years. But with prices still rising and mortgage rates running about half a percentage point higher than last summer the mortgage payments that many homebuyers face have increased at roughly double the rate of home prices over the past year.

One way to measure the impact of inflation,...

The Delay in Discovering Mortgage Fraud - Or What You Don’t Know for Too Long Can Hurt You

Part III of III in a series

Bridget Berg    |    Mortgage Performance


Unlike other types of financial fraud, mortgage fraud is rarely identified quickly. The problem with the lag in discovery is that by the time a financial institution gets the feedback, it’s often too late to mitigate the situation. Another issue is that the lag time gives management a false sense of security about their true fraud risk. As a result, poor practices or an undetected scheme...

NABE Economic Policy Survey August 2017

Business Economists Expect Interest Rates to Rise, Have Concerns on Health Care, Immigration and Foreign Trade Policies - NABE respondents opine that GSEs should be partly or fully privatized

Frank Nothaft    |    Housing Trends


The National Association for Business Economics’ (NABE) semiannual Economic Policy Survey focused on some of the critical fiscal and monetary issues that policy makers currently face (NABE Economic Policy Survey August 2017).  Conducted July 18-August...

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