Opinion | Affordable housing shouldn’t be shouldered by those with good credit WashTimesOpEd
, will, “when determining whether to purchase a residential mortgage … consider a borrower’s credit score only if certain procedural requirements are met with respect to the validation and approval of credit-scoring models.”
Lenders worry that abandoning the classic FICO scoring system for giving out mortgages in favor of an array of other measures will muddle things, creating friction in the relationship between lender and borrower and, not surprisingly, make things worse for people with thin or bad credit. Social justice advocates argue on the other side that credit scores don’t fairly represent a person’s ability to keep their promise to pay.
Neither of these outcomes benefits borrowers who are facing an uphill climb for their first mortgage. In the first case, the supply of money will fall , resulting in higher rates with loans granted. In the second case, backing loans to families that can’t support them will result in foreclosures that make the underlying problem of credit worse.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Rents are still on the rise—these are the most and least affordable cities for rentersMarket rents are moderately to severely burdensome for residents in 65% of U.S. cities, according to a new analysis.
Leer más »
The Many Enemies of Affordable HousingNew York has lost the opportunity to build more and protect tenants. Blaming Kathy Hochul is only a start.
Leer más »
ExxonMobil unleashing 'much needed' affordable energy with industry’s biggest refinery expansion in 10 yearsExxonMobil Senior Vice President of Global Operations Janet Matsushita says the oil producer's new expansion project is providing the economy with 'much needed' affordable energy.
Leer más »
Denver's latest affordable housing project breaks ground in Northfield area of Central ParkThe vast amount of developable space in Denver’s Central Park is ground zero for several of the city’s latest affordable housing projects. The latest one? Northfield Flats.
Leer más »
Giant $400 Million Dallas Plan to Boost Affordable HousingTo combat the soaring cost of owning or renting a home in Dallas, the City Council Housing Committee Monday heard a plan to spend as much as $400 million public dollars to attract and build affordable housing.
Leer más »
Jennie and Jisoo Wore Shoes from This Affordable Luxury Brand at CoachellaDon't mind if we do.
Leer más »