Ben Eisen

speaker

1,467 appearances 35 recordings 1 series first heard Jul 2017 last heard Nov 2024

Ben Eisen’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

Appearances

newest first · ▶ plays the moment

WSJ Your Money Briefing · Mortgage Lending Rules: No Tax Returns? No Problem! · 24 Jan 2019 podcast

You've seen kind of a boom in housing over the last many years, but as rates have started rising, it's made mortgages more expensive. matched

So you've seen purchase mortgages cool off a little bit. matched

You've seen refis basically matched

stop being done altogether because it's no longer beneficial to do so and now you have lenders who are looking for new business kinda starting to I this group borrowers that perhaps were able to get mortgages before matched

I mean, it's not necessarily a red flag if you have safeguards in place. matched

So you might use bank statements to verify that you do have an income. matched

And then if you have a high FICO score and you're willing to put down a lot of money as a down payment, matched

that might be enough for a lender to say, okay, we're comfortable making this loan. matched

I think where you get into trouble is you have what folks tended to call the liar loans during the financial crisis where you had people who basically just stated what their income was, didn't provide any documentation to show it, and it turned out they were lying and couldn't make payments on their mortgages. matched

Here, I think, at least what we've seen so far, there's a lot more caution. matched

Right. matched

You have all these post-crisis rules put into place, including the ability to repay rule. matched

Most folks would agree that the underwriting standards are stronger. matched

And there's just more caution that's gone into these loans so far. matched

I think what worries some people is that, OK, you have this market starting to open up again. matched

And as you get more lenders in the space and you get more competitions to make these loans, then you start to see kind of this slippery slope of the standards starting to deteriorate. matched

And I think many would say that it's not before the crisis you didn't necessarily have liar loans as kind of the first type of loan that was being made. matched

It was that you had more cautious loans being made. matched

And over time, the underwriting standards started to deteriorate. matched

So I think people are just kind of on guard to make sure they don't happen like that again. matched

Showing 1121–1140 of 1,467 · page 57 of 74