If the CFPB's proposed ban on medical debt on credit reports is established, the agency estimates that it could lead to approximately 22,000 additional home loans per year.
According to an analysis by Inside Mortgage Finance of data from the Home Mortgage Disclosure Act, Open Mortgage originated $480.9 million of mortgages in 2023, with FHA loans accounting for 38.6% of that volume.
"Current sentiment reflects pent-up frustration with the overall lack of purchase affordability," said Doug Duncan, a senior vice president and chief economist at Fannie Mae.
RSS