Expanding mortgage loans to consumers without a credit score

  • Throughout 2014 and 2015 we have seen more wholesale lenders create products for people whose credit, income, and collateral profiles do not fit agency guidelines.
  • Encouraging lenders to expand manual credit underwriting for folks with a non-traditional credit profile can help meet the goals of HUD, NAR, Fair Lending, mortgage lenders, and consumers.

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Our government created the FHA (Federal Housing Administration) Mortgage Insurance Program right after the Great Depression, to encourage banks to lend to people who have less-than-perfect credit. More recently, the FHA Mortgage Insurance program was used during the Great Recession to cushion the loss of subprime lending.