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Tight credit conditions continue to constrain the housing recovery

Jordan Rappaport () and Paul Willen

No 141, Current Policy Perspectives from Federal Reserve Bank of Boston

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-codes: E66 (search for similar items in EconPapers)
Pages: 4 pages
Date: 2014-07-07
New Economics Papers: this item is included in nep-mac and nep-ure
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