Cindy pictured here with State Representative Beverly Woolley with the HAR Governmental Affairs Committee. Visiting to discuss issues important to Realtors.
Friday, December 31, 2010
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Credit Score Requirements Stifling Borrowers
Daily Real Estate News
November 18, 2010
Despite record-low interest rates, an increasing number of Americans can't afford to buy a house.
The nation's two largest mortgage lenders, Wells Fargo & Co. and Bank of America Corp., have raised the minimum required credit score on FHA-insured loans to 640 from 620.
Requiring a 640 credit score excludes about 15 percent of FHA borrowers, FHA commissioner David Stevens said. See the Article . . .
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