Current Credit Standards Tougher Than They Need to Be

What is an acceptable rate of mortgage delinquency?  A CoreLogic economist is using current
delinquency rates to argue that delinquencies will always be with us and that
today’s underwriting standards are tougher than they need be.  

Molly Boesel, a senior economist with the company says the serious
delinquency rate (SDQ) in February 2010, near the height of the housing crisis,
was 8.6 percent.  Recent figures from CoreLogic
show 1.6 million SDQ mortgages – those 90 days or more past due or in foreclosure,
a rate of 4.2 percent. t
still supports sustainable homeownership.

…(read more)

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