Sentences with phrase «nontraditional mortgage»

Then the course provides an in - depth examination of lending standards for nontraditional mortgage loans that include Adjustable rate mortgages, subprime and high - cost loans, and reverse mortgages as well.

Alternative Financing Alternative financing is a term used to describe any nontraditional mortgage product (including Conventional, FHA, VA).

The loan officers also reported that the new Ability to Repay and Qualified Mortgage standards have had little effect on the approval rate of prime conforming mortgages; however, both standards have reduced the approval rates for prime jumbo mortgages and nontraditional mortgages.

«Because FHA hasn't changed with the times, a growing number of home buyers are being forced to use nontraditional mortgages,» Poole said at the hearing.

Federal and state banking regulators have issued guidance to tighten the underwriting standards for nontraditional mortgages and recently proposed similar guidelines for subprime mortgages.

In its comments to the proposed guidelines, NAR will stress the need to keep nontraditional mortgages available to appropriate borrowers, particularly in high - cost areas.

Not exact matches

A low credit score or a nontraditional credit history can hurt a borrower's chances of getting a mortgage.

It also criticized the qualified mortgage loan change as a dramatic expansion that «gives lenders a major safe harbor for nontraditional underwriting practices reminiscent of those that caused the crisis.»

That's a substantial figure and up significantly from a few years ago when the FHA mortgage loan program faced stiff competition from so - called «nontraditional» loans, you know that mortgages which are now driving people into foreclosure and bankruptcy.

They also have a nontraditional underwriting approach for mortgages and personal loans.

IndyMac's aggressive growth strategy, use of Alt - A and other nontraditional loan products, insufficient underwriting, credit concentrations in residential real estate in the California and Florida markets — states, alongside Nevada and Arizona, where the housing bubble was most pronounced — and heavy reliance on costly funds borrowed from a Federal Home Loan Bank (FHLB) and from brokered deposits, led to its demise when the mortgage market declined in 2007.

As an Alt - A lender, IndyMac's business model was to offer loan products to fit the borrower's needs, using an extensive array of risky option - adjustable - rate - mortgages (option ARMs), subprime loans, 80/20 loans, and other nontraditional products.

Yet some mortgage lenders — like smaller banks and credit unions — will use nontraditional credit - scoring methods for conventional loan borrowers as well.

However, these funds are also available to be invested in IRS - permitted nontraditional assets, including mortgages, raw land, commercial buildings, vacation rentals, multifamily homes, private notes, private stock, startup businesses and shares in LLCs, just to name a few.

Whether you are just starting out, moving up or downsizing — or if your financial circumstances call for nontraditional solutions — Westerra Credit Union has a mortgage product to fit your needs!

According to the Fed's October 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices, the study found that «significant numbers of domestic respondents reported that they had tightened their lending standards on prime, nontraditional, and subprime residential mortgages over the past three months; the remaining respondents indicated that their lending standards had remained basically unchanged.

According to the latest Senior Loan Officer Opinion Survey on Bank Lending Practices, «significant numbers of domestic respondents reported that they had tightened their lending standards on prime, nontraditional, and subprime residential mortgages over the past three months; the remaining respondents noted that their lending standards had remained basically unchanged.

«Concerning residential real estate loans, between about 70 percent and 80 percent of domestic respondents expect the quality of their prime, nontraditional, and subprime residential mortgage loans, as well as of their revolving home equity loans, to deteriorate in 2008.

JPMorgan Chase does not require that customers structure or hold their balances in any particular type of account in order to qualify for a loan or the Private Client Mortgage Rate Program, nor does JPMorgan Chase require customers to purchase any nontraditional banking products or services (such as brokerage accounts).

Ideal for home buyers and refinancers who want an FHA mortgage and need to be evaluated using nontraditional credit criteria.