Mortgage Blog

Lender Loosened Underwriting Standards too quickly?

August 28th, 2013 9:18 AM by Eric Fang

Got an email from one former AE about their
new guideline. My first impression is that
subprime is back.

1)500 Mid Credit score is ok
2)One day out of foreclosure, short sale is ok
3)Can use bank statements as income for self employeed.

And this lender is from the hometown of subprime:Irvine, CA.

I think other lenders will follow as well, though not as
much as this lender.

Posted in:General
Posted by Eric Fang on August 28th, 2013 9:18 AM



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