Credit Underwriting Changes; Exec Comments on Margins and Volume; Ally's Offer

Posted To: Pipeline Press

Lenders cutting margins in a diminishing mortgage marketplace. You bet. Does one lender want 100% market share? Perhaps. Here's the latest example: Ally Home announced their Price Match Guarantee to give consumers peace of mind that they're getting the best rate possible (see here for full release). "...If a consumer finds a better price at another lender, all they have to do is let their Ally Home loan advisor know..." What about the cost to produce a loan? For more information on the interaction between margins & volumes, see the "Capital markets" section below. Changes in credit underwriting and guidelines If you have bad credit, will a lender give you a home loan? Sure, someone, somewhere. What are Realtors telling their clients ? Mortgage lenders check your credit score...(read more)

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