Tag: real-estate market

The latest quarterly credit trends analysis by Experian shows that mortgage originations increased by 10 percent over one year ago. More importantly, the data shows a 29 percent increase in home purchases from the prior quarter and a decrease in refinance activity. Additionally, home-equity lines of credit (HELOCs) increased significantly (30 percent over last year), providing further evidence of an improving real-estate market. Source: Mortgage originations increase by 10 percent from a year ago

Despite the improving real-estate market, financial institutions are concerned about lending to consumers who have pursued strategic defaults. In a recent VantageScore Solutions survey, 85 percent of respondents believe that consumers who have pursued strategic defaults pose increased risk, even if they meet the institution’s other lending criteria. More than half of those surveyed said they are not likely to approve strategic defaulters for a mortgage loan in the next 12 months. Source: The Score: Short sales and foreclosures make lenders wary VantageScore® is a registered trademark of VantageScore Solutions, LLC.