DS News Webcast: Tuesday 2/18/2014

first_img in Featured, Media, Webcasts Share Save DS News Webcast: Tuesday 2/18/2014 February 18, 2014 462 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: New Analysis Seeks to Reduce Foreclosure Timelines Next: Valuation Vision Welcomes New Managing New Director Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Wells Fargo is looking to re-enter the subprime mortgage market by lowering its standards of acceptable credit scores for borrowers. According to a report by Reuters, the bank is interested in customers with credit scores as low as 600 that meet strict criteria and have reasonable explanations for low scores. Wells Fargo is only looking to lend to borrowers with weaker credit scores if the Federal Housing Administration backs the loans.Rising mortgage rates have incentivized lenders to target more borrowers. U.S. lending is expected to drop 36% in 2014 according to the Mortgage Bankers Association, due in large part to a decline in refinancings. Subprime borrowers accounted for only 0.3% of new home loans in October 2013, compared to the February 2004 average of 29%.The St. Louis dispatch reports that Bank of America cut 280 workers from the mortgage operations department of the St. Charles, Missouri office. The staff reductions continued from earlier in the week, when 450 workers from the bank’s West coast offices were let go. A company spokeswoman attributed the lay offs to a shrinking volume of delinquent mortgage loans, noting that delinquent loans have dropped by a third, requiring less staff. Demand Propels Home Prices Upward 2 days agocenter_img Home / Featured / DS News Webcast: Tuesday 2/18/2014 Demand Propels Home Prices Upward 2 days ago Related Articles About Author: DSNews Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2014-02-18 DSNews Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img

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