According to an analysis by the Urban Institute, loan default rates have dipped so low since 2011 that they’re nearly nonexistent, yet only the best borrowers are able to get mortgages. This is a sign that home lending credit standards need to loosen up, says Laurie Goodman of the Institute’s Housing Finance Policy Center. “Given this environment of meticulous underwriting, borrowers with lower credit scores may well perform better than their counterparts performed in the past,” says Goodman.
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