Report

Tight credit conditions continue to constrain the housing recovery


Abstract: The expansion of Federal Housing Administration lending has let households with imperfect credit or the inability to make a large down payment maintain access to mortgage borrowing. Rather than excluding such households, lenders have been applying strict underwriting conditions on all borrowers. Clarifying what constitutes approved lending may help relax credit conditions with minimal increase in risk.

JEL Classification: E66;

Access Documents

File(s): File format is application/pdf http://www.bostonfed.org/economic/current-policy-perspectives/2014/cpp1401.pdf
Description: Full text

Authors

Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Current Policy Perspectives

Publication Date: 2014-07-07

Number: 141

Pages: 4 pages