[illiac]

Housing recovery goes on......(sarc)....

[zeestephen]

I'm getting increasingly suspicious about this “Tight Money” banker theme.

Sounds like Hard Left political preparation for direct government intervention.

Anyone remember yesterday?

The same folks were telling us that greedy bankers and “Loose Money” caused the greatest financial crisis since the 1930’s.

[hadaclueonce]

When I sold my house in 99 in DFW I saw red flags.

When I bought it in 84 I had to have 15% down, when I sold it all the lady had to have was a pay stub. She got in for $400.00.

[TurboZamboni]

they’re tighter for now...if Barry gets re-elected, another EO will undo any “stringent” rules.

rates will go to 1.5% to re-inflate the bubble.

[rockinqsranch]

BFLR

[E. Pluribus Unum]

It would have been nice if they had enforced strict underwriting standards BEFORE the subprime mortgage horse had left the barn.

[Tax-chick]

I wonder if we should re-fi again.

[longtermmemmory]

it seems as if the elites are creating a “caste system” based on their control of credit scores.

[Psycho_Bunny]

This just sounds like whining spin to appease realtors who are having trouble making sales.

Banks were ordered into the sub-prime market, they got burned and are returning to sane lending criteria.

I remember the 90’s at Seafirst/BofA where the loan officers had to be ordered and trained to approve loans they would have laughed at the month before.

[proxy_user]

What really got me is when I met a guy who was trying to refinance a $110K mortgage on a house that is easily worth over a million....and they were giving him a hard time about the appraisal.

[ChildOfThe60s]

Something amiss here.

My nephew has a good job, but 640 FICO and a wife with bad credit; debt/spending is par with his income, IOW he has no savings. He had to have his mother give him $10K for down and closing. He has been pre-approved on his 640 alone for a $135K house with 3% down and 3.85% on 30 yr fixed

3 years ago I refinanced to get 4.85% 30 yr fixed and had to have 20% equity and the wife and I both are over 800 FICO.

What the hell is going on?

[manic4organic]

I have a Conventional (14 years left on a 30 year) at 7.375. I have about $85,000 in equity on a home valued at around $140,000. Because of trying to expand our business several years ago, we have some hits on our credit. I’d love to re-fi and just lower out payments, but there is no way any lender would do it. We are barely scraping by. If only I were “poor” I’m sure Obama would help me. S/

[thirst4truth]

The property being bought is almost as important as the buyer. Banks are scrutinizing the homes alot more than before. If the property has two separate tax lots that can be divided, forget it they will not finance. Too much acreage and not a big enough home on that acreage, forget it they will not finance.

I know this from experience I sell homes for a living and it is so bad right now but on the other hand so good. Low interest rates, lowest in 50+ years and incredible buys out there, it has really picked up this year in my area, southern Oregon, we are all very busy.