Potential homeowners may be talking themselves out of the American dream, according to several recent surveys that show consumers underestimate their ability to get a mortgage. A Genworth survey of more than 100 lending executives found that 66 percent said eligible borrowers mistakenly think they don’t qualify for a mortgage. In a similar survey on consumer’s views on homeownership, Wells Fargo reported...
CMLA argues that “moving implementation to January [from October] will allow lenders and settlement service providers a more gradual implementation of the new disclosures in a lower pressure environment.”
Wells Fargo was the top seller to Freddie Mac in 2Q with $12.6 billion, according to newly compiled figures from Inside Mortgage Finance, but BofA was a somewhat close second...