Lenders are directing more resources toward purchase-mortgage originations and reporting that they are holding underwriting requirements firm. However, an Inside Mortgage Finance analysis of mortgages delivered to the government-sponsored enterprises suggests that purchase-mortgage underwriting requirements have gradually loosened in the past year. The focus on purchase mortgages became urgent as interest rates started to increase in May, settling for the moment about 100 basis points higher than they were in April, reducing demand for refinances. In October, purchase mortgages accounted for over half of the loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae. The vast majority of 68 lenders surveyed by the Federal Reserve said...[Includes one data chart]