HUD Secretary Tells Realtors® FHA is Exploring Alternative Credit Scoring Models to Expand Mortgage Access

WASHINGTON, April 1, 2015 /PRNewswire/ — A diverse group of housing industry stakeholders participated in a credit access symposium today to discuss how alternative credit scoring models could expand access to mortgage credit for responsible borrowers who may have thin credit histories or extenuating circumstances like medical debts. The event, co-hosted by the National Association…

HUD’s Castro to Realtors: We want alternatives to traditional credit scoring

Credit accessibility continues to dog marginal homebuyers By Trey Garrison Several real estate trade groups spent Wednesday discussing the challenges that credit standards pose for access for some would-be borrowers and alternatives to traditional credit scoring. The event, co-hosted by the National Association of Realtors, the Asian Real Estate Association of America and theNational Association…

Hispanic Homeownership Falls in 2014

by Jacob Passy The rate of Hispanic homeownership fell in 2014 to its lowest level since 1999, according to data released by the National Association of Hispanic Real Estate Professionals. NAHREP’s State of Hispanic Homeownership Report found that the only 45.4% of Hispanics owned a home in 2014, despite a net increase of 54,000 Hispanic-owner…