Orla McCaffrey

speaker

593 appearances 13 recordings 1 series first heard Mar 2020 last heard Jun 2022

Orla McCaffrey’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 · Lenders Loosening Mortgage Eligibility Requirements · 4 Apr 2022 podcast

So it's not getting cheaper to buy a home or to finance a home.

I guess there are just some more options on how to structure things that lenders are making available.

for borrowers.

But across the board, for the average person who is trying to buy a house, you still have to be pretty well qualified.

Credit standards are still historically pretty tight.

It's not like now somebody who wouldn't have qualified for a mortgage a year or two ago will.

They might just qualify for a bigger mortgage or they might be able to structure their mortgage differently.

So one thing lenders have started doing that is more common is allowing people to qualify for mortgages with bank statements and statements from their investment accounts that prove their assets instead of the traditional pay stub income verification that lenders have used in the past.

So this would be helpful for self-employed people, people who don't get regular paychecks from a company.

So think of

Self-employed folks and YouTube content creators are some folks who have benefited from this in the past.

So that's just an indicator that lenders are really trying to broaden the pool of who can be qualified for a mortgage right now.

Because like I said, lenders are really gasping for breath when it comes to volume and they just want to make sure that they're considering all potential applicants.

So some loans that they have been a little bit more willing to offer are jumbo loans, which are loans that you can't get a traditional conventional mortgage for because the loan amount is too big.

And those loans are becoming more common, right, because prices are going up.

So people are having to take out bigger loans to finance these homes that would have been at a more reasonable price a year or two ago.

Absolutely.

And the concerns about affordability only continue to grow.

And it's interesting because earlier in the pandemic, we saw mortgage rates fall, right?

That made buying a house, that made mortgage payments more affordable because we had yet to see this happen.

Showing 61–80 of 593 · page 4 of 30