Continued Deterioration in Origination Quality
As home lenders and investors have recently been a little more relaxed about credit qualifications compared to just after the crisis, mortgage quality has weakened. Still, quality is better than before the crisis.
During the past three years, the quality of residential loans originated has weakened, though credit quality remains far stronger than the early 2000s and the late 1990s.
Components of borrower character like credit scores are the strongest feature of current mortgage originations, and they have weakened little over the past few years.
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