Although mortgage executives plan to relax credit requirements, the easing is not the same as was done before the nation’s housing market collapsed nearly a decade ago.
A survey this week by Fannie Mae indicated that senior residential lending executives expect credit requirements on mortgages to ease over the next few months.
But, according to the secondary lender’s chief economist, Doug Duncan, the easing is not an attempt by lenders to increase demand, as was the case before the financial crisis.
Source: Mortgage Daily
