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.

EMBRACE. FOCUS. EXECUTE. Build your 2019 roadmap to success with 4,000+ real estate leaders.
Inman Connect New York | January 29 - February 1, 2019

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.