We are having interest rates at less than 5% and yet there is no refi boom or surge in housing sales. NOBODY is getting approved and now others are finally starting to grumble. It is time drop the conforming scores back to 620+, it is time to bring back STATED for self employed and it is time to bring back compensating factors in guidelines....the strangulation of the borrower has to stop.
Check out this article.
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