The average FICO score for mortgages closed in December was 727, down 11 points from the 2013 average and 21 points lower than the same time a year ago, mortgage industry software developer Ellie Mae reports. Back-end debt-to-income ratio (39 percent) and average loan-to-value ratio (82 percent) were at 2013 highs as mortgage lenders continued to ease underwriting standards. Source: elliemae.com.

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