Some buyers might struggle to gain approval for a home loan as lenders are starting to tighten their credit standards. The Mortgage Bankers Association said that mortgage credit availability, which is a measure of lender’s willingness to approve a home loan, is now at its lowest level since 2014. “Because mortgage credit is more difficult
FHFA extends relaxed rules on employment verification and home appraisals
March 16, 2021 by
The relaxation of lending and appraisal standards for loans backed by Fannie Mae and Freddie Mac has been extended for another month, the Federal Housing Finance Agency announced last week. The FHFA put its eased standards in place due to the COVID-19 pandemic to help lenders and appraisers keep loans on track amid social distancing
