Data suggest U.S. mortgage lenders relaxing credit criteria

09/23/2013 | Los Angeles Times (tiered subscription model)

Mortgage lenders in the U.S. are lending to applicants with steadily lower credit scores, according to a survey by mortgage technology firm Ellie Mae. Among successful mortgage applicants in August, 30% had credit scores below 700, up from 15% in August 2012. Average credit scores are down for Federal Housing Administration, Fannie Mae and Freddie Mac mortgages.

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