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Non-Tech : Investing in Real Estate - Creative Opportunities
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From: John Vosilla3/26/2017 2:13:03 AM
   of 2722
 
no-credit-no-problem-for-mortgage-borrowers

Mortgage giant Freddie Mac today announced a new program that will allow lenders to give mortgages to buyers without credit scores.

The program, which will start in June, allows lenders to bypass credit score requirements if borrowers can show regular proof of income and expenses, including a track record of housing payments.

While the program may remind some observers of housing bubble loans, Freddie Mac says the program is a "responsible" way to enable unconventional buyers to purchase homes.

"We're committed to supporting responsible lending and improving access to credit for all borrowers, including first-time home buyers, low- and moderate-income buyers and underserved populations," said David Lowman, executive vice president of Freddie Mac's Single-Family Business.

http://www.dispatch.com/news/20170323/no-credit-no-problem-for-mortgage-borrowers
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